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Extell seeks $3.8B construction financing for Upper West Side condos
The plan would place condominiums on the former ABC television network headquarters site, where Extell paid $930 million to acquire the property in 2022.
Extell Development is seeking $3.8 billion in construction financing to build condominiums on Manhattan’s Upper West Side, according to ConnectCRE, citing Bloomberg News.
The project would be developed on a site that previously housed the ABC television network headquarters, and ConnectCRE reports the financing could rank among the largest construction loans in the United States.
ConnectCRE says JPMorgan Chase & Co. is in talks to lead the financing, and Extell paid $930 million to acquire the site in 2022.
ConnectCRE also notes that Extell filed plans in April for an 86-story tower designed by Robert A.M. Stern Architects, and that the developer finalized $1.25 billion in financing earlier this month for an 1,800-key hotel in a Times Square project known as the Torch.