World-Wide Lands $450M Loan For NYC Tower

Law360, New York (February 21, 2014, 4:55 PM EST) -- The World-Wide Group and Rose Associates said Thursday that they have closed on a $450 million construction loan that will go toward a 65-story residential tower at 252 East 57th St. in New York.

The $450 million loan will be provided by Connecticut-headquartered Starwood Property Trust Inc. The 65-story tower will be about 700 high and will contain 93 condominium residences and 173 rental apartments.

James Stanton, president of the New York City-based World-Wide Group, said in a statement Thursday that the real estate investment company...
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