RXR shaves Extell’s One Manhattan Square loan by $163M

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M&T Bank led a consortium of lenders-including Capital One and Intesa SanPaolo Bank -in providing a $425 million senior construction loan in the deal, while RXR Realty provided a $105 million mezzanine loan.. The Real Deal first reported news of the financing.. The 720-foot-tall, 68-story building, located in Downtown Brooklyn, will be the first and only for-sale development at City Point.

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http://politico.pro/2bpURfq WAIT AND SEE- "RXR shaves Extell’s One Manhattan Square loan by $163M," by The Real Deal’s Mark Maurer: “For the fourth time, Extell Development, one of the city’s foremost.

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The sit-down: Extell's Gary Barnett on One Manhattan Square, financing megaprojects and. RXR shaves Extell's One Manhattan Square loan by $163M.

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RXR shaves Extell’s One Manhattan Square loan by $163M If Gary Barnett can’t score a big loan at very favorable terms, is there hope for anyone in New York? For the fourth time, Extell Development, one of the city’s foremost developers, announced that the closing of a crucial mezzanine loan for three projects from fellow developer RXR.

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RXR shaves Extell’s One Manhattan Square loan by $163M . I noted this in a past post and this is proof it’s beginning. Bridge loans are crucial for the developers across the country esp NYC, and with multiple billions in loans coming due in 2017 we could be in for a massive credit crunch within the commercial loan sector