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Column Financial Redevelopment Financing
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We represented Credit Suisse subsidiary Column Financial Inc. in closing a $95 million financing facility for the redevelopment of a residential building with a retail component located at 101 West 87th Street in Manhattan’s Upper West Side/Central Park Historic District. The redevelopment includes the addition of new space atop and alongside an existing structure and conversion of the entire building into a mixed-use condominium. Three pieces of debt were secured by sequential mortgages on the property while the fourth, a mezzanine facility, was secured by a pledge of ownership interests in the property-owning entity. SRZ also advised with respect to zoning regulations and the West Side Urban Renewal Plan.
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