In a market experiencing unprecedented change, parties involved in high-stakes real estate deals need a steady, trusted hand to guide them. The Paul, Weiss Real Estate Practice leverages a history of executing every kind of real estate property transaction and unparalleled business and legal acumen to help the most complex projects succeed amid volatile economic conditions.
Rockefeller Group Receives Loan from Sumitomo Mitsui for New Development Project
- Client News
- September 28, 2018
Practices
Paul, Weiss represented Rockefeller Group Development Corporation in the development financing for a new residential condominium tower project in Manhattan. Sumitomo Mitsui Trust Bank Ltd. led the debt financing, with an approximately $203 million construction loan. As part of the transaction, Global Holdings Management Group made a $52.5 million preferred equity investment in the project. The Rockefeller Group is planning to build a 46-story, 632-foot condominium tower in the Madison Square North district.
The Paul, Weiss team included, among others, real estate partners Meredith Kane and Peter Fisch; tax partners David Sicular, Patrick Karsnitz and Brian Grieve and counsel Todd Hatcher; and environmental counsel William O'Brien.