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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.