The Real Deal - New York Real Estate News

Extell lands $125M loan for UES resi project

Posted: 13 Jun 2022 05:00 AM PDT

Gary Barnett’s L-shaped project scored a “W” this week thanks to a $125 million debt package that refinances the planned Upper East Side tower. German commercial lender Helaba provided the loan for Extell Development’s project at 1637 First Avenue, according to property records reported by the Commercial Observer. Helaba previously demonstrated its belief in the project in 2018, when it provided $118.2 million in financing to back the purchase of the 10 lots, along with

The Closing: Eran Chen

Posted: 13 Jun 2022 04:30 AM PDT

If Eran Chen cultivates the image of the cool New York architect, so do his buildings. He’s playful with shape and has an affinity for structures that teeter right on the edge of pedestrians’ nerves below. Of course, they don’t physically teeter. Chen has mastered this particular game of mega-Jenga. But architecture is more than a game. Chen navigates New York City’s complex zoning code with a nimbleness mirrored in the cantilevered structures he designs.

Netflix bids on 289-acre land in New Jersey

Posted: 13 Jun 2022 04:00 AM PDT

Netflix is officially in the running for a large tract of land in New Jersey. So is one of New York City’s biggest developers. The streaming giant bid on the so-called “Mega Parcel” in Fort Monmouth on Monday, NJ.com reported. Bidders had until Monday at noon to submit proposals for the 289-acre land, a former Army base made available through the Fort Monmouth Revitalization Authority’s request for offers. Details on the bid were not available,