{"id":1004221155,"date":"2018-04-18T23:54:01","date_gmt":"2018-04-19T07:54:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004221155"},"modified":"2022-12-09T00:33:48","modified_gmt":"2022-12-09T08:33:48","slug":"hff-orchestrates-260m-loan-for-manhattan-mixed-use-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-orchestrates-260m-loan-for-manhattan-mixed-use-project\/","title":{"rendered":"HFF Orchestrates $260M Loan for Manhattan Mixed-Use Project"},"content":{"rendered":"<p>By Barbra Murray<\/p>\n<div id=\"attachment_1004221158\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Essex-Crossing-New-York-City.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004221158\" data-attachment-id=\"1004221158\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-orchestrates-260m-loan-for-manhattan-mixed-use-project\/essex-crossing-new-york-city\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Essex-Crossing-New-York-City.jpg\" data-orig-size=\"564,423\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Essex Crossing, New York City\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Essex Crossing, New York City&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Essex-Crossing-New-York-City.jpg?w=564\" class=\"wp-image-1004221158 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Essex-Crossing-New-York-City.jpg\" alt=\"Essex Crossing, New York City\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Essex-Crossing-New-York-City.jpg 564w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Essex-Crossing-New-York-City.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004221158\" class=\"wp-caption-text\">Essex Crossing, New York City<\/p><\/div>\n<p>Acting on behalf of Delancey Street Associates, a joint venture of Taconic Investment Partners, L+M Development Partners, BFC Partners and Goldman Sachs Urban Investment Group, HFF has arranged a $260 million construction loan for 202 Broome Street, a roughly 340,000-square-foot mixed-use project in Manhattan.<\/p>\n<p>The advisory team secured the 42-month loan through Square Mile Capital Management. The building will rise on the Lower East Side within Delancey Street\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/lower-east-side-mega-project-includes-new-andy-warhol-museum\/\">$1.3 billion Essex Crossing<\/a>, a 1.9 million-square-foot mixed-use project deemed one of the most significant urban renewal developments to ever take shape in Manhattan.<\/p>\n<p>The 16-story building will encompass 83 luxury residential condominiums, approximately 179,200 square feet of office space and nearly 36,900 square feet of retail offerings, including a portion of the Market Line marketplace. With financing in place, Delancey Street is on track to complete development of 202 Broome in 2020.<\/p>\n<h2>Hefty financings<\/h2>\n<p>HFF has orchestrated more than a few $100-million-plus financing transactions this year. Additional transactions in the month of April alone include a $132.9 million fixed-rate loan for a three-property apartment portfolio in San Mateo, Calif., and <a href=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-loan-for-sf-high-rise-expansion\/\">$145 million in construction financing<\/a> for the renovation and expansion of a 171,000-square-foot office building in San Francisco. In March, the firm announced that it had arranged a loan package totaling $384.9 million for the refinancing of a two-tower office and life science complex totaling 717,000 square feet in South San Francisco.<\/p>\n<p>The firm was <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-commercial-multifamily-mortgage-originators\/\">ranked by the Mortgage Bankers Association<\/a> as the number one commercial\/multifamily mortgage originator in 2017. MBA also recognized the company as the top originator for third parties by dollar volume, the top intermediary and originator for life insurance companies.<\/p>\n<p><em>Rendering courtesy of\u00a0Delancey Street Associates<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The advisory team arranged the financing for the construction of 202 Broome Street, a mixed-use building being erected within Delancey Street Associates\u2019 $1.3 billion Essex Crossing development. <\/p>\n","protected":false},"author":969,"featured_media":1004221158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21808,21825,21752,1600,21742,10],"tags":[39894,39888,32792,33318],"class_list":["post-1004221155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-featured","category-finance","category-mixed-use","category-new-york","category-latest","category-northeast","tag-bfc-partners","tag-essex-crossing","tag-hff","tag-square-mile-capital-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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