Sidley, Sullivan Steer $123.6M In Loans For NY Condo Site

Law360, New York (December 10, 2015, 4:42 PM EST) -- An affiliate of real estate investor William Macklowe has secured $123.6 million in new financing for a downtown Manhattan condominium project site from M&T Bank in a deal guided by Sullivan & Cromwell LLP and Sidley Austin LLP, according to New York City property records made available Thursday.

The William Macklowe Co. affiliate, 21E12 LLC, took out three mortgages from M&T Bank Corp. tied to the property at 110 University Place in Greenwich Village. The financing package includes a $60 million land loan, a $39.7 million building loan and a $23.9 million project loan, according to documents dated Oct. 29....

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