NYC Condo Tower Secures $350M Loan From BofA, Others

Law360, New York (January 11, 2013, 5:36 PM EST) -- A Bank of America NA-led consortium of lenders is providing $350 million worth of funding for a long-dormant 60-story residential condominium project in Manhattan's Tribeca neighborhood with one of the largest construction loans since the 2008 downturn, Bank of America confirmed Friday.

Construction on the 830-foot condo tower at 56 Leonard Street was put on hold following the financial crisis, but will move ahead once again thanks to the latest influx of cash. Morrison & Foerster LLP partner Chris Delson, who represented Bank of America in...
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