Excavation and foundations are progressing at 343 Madison Avenue, the site of a 49-story commercial skyscraper in Midtown East, Manhattan. Designed by Kohn Pedersen Fox and developed by BXP, the 844-foot-tall structure will yield 950,000 square feet of office space and a collection of tenant amenities. The property is located between East 44th and 45th Streets.
Real estate development and investment firm Global Holdings has secured a $450 million refinancing for 1250 Broadway, a 39-story office tower in NoMad, Manhattan. Branded as Nomad Tower, the property is a LEED Platinum-certified office building located along Broadway between West 31st and West 32nd Streets. Wells Fargo originated the three-year fixed-rate loan, which was structured as a Green Bond, while Eastdil Secured advised on the transaction. Proceeds from the financing will retire existing debt on the property.
Plans have been recently approved for the third and last phase of the 1.5-million square foot HELIX redevelopment in New Brunswick, New Jersey. Designed by Elkus Manfredi Architects and developed by the New Brunswick Development Corporation, aka DevCo, the forthcoming 39-story mixed-use residential skyscraper will yield 563,000 square feet with 265 apartments in studio- to two-bedroom layouts, 53 of which will be affordable; 31 student housing units; roughly 36,000 square feet of research space for Rutgers WINLAB & ESRG research facilities; over 52,300 square feet of specialized laboratories and housing for Rutgers School of Medicine student; and more than 178,500 square feet of commercial office space for the Middlesex County government on the first seven floors. The site for the new $468 million tower spans over 30,000 square feet and is comprised of five combined parcels at 57, 65, 69, 71, and 73 Paterson Streets, and is bounded by Kirkpatrick Street to the west, and Spring Street to the east.
JLL Capital Markets has arranged a $40 million refinancing for 99 Hudson Street, a 183,958-square-foot office building in Tribeca, Manhattan. The borrower is an affiliate of Olshan Properties, a privately held real estate investment firm. Built in 1930, the 17-story Class B office building has been owned by Olshan since 1983. The property is located at the corner of Hudson and Franklin Streets.
A new rendering has been revealed for Filmology Labs: Content Creation Studios, a planned conversion of a historic silk mill into a film and digital studio at 61 State Street in Paterson, New Jersey. Designed by Conrad Roncati of Architectura and developed by media entrepreneur Alam Mruvka, the 250,000-square-foot complex will contain 21 production sound stages with pre-built standing sets. The property, which is also known as the Reinhardt Building and the Padded Wagon Building, occupies a full block bounded by 20th Avenue to the north, 21st Avenue to the south, Gray Street to the east, and State Street to the west.
