Items about new construction financing deals don't generally snag our attention, but sometimes they include fresh details about buildings that have been on our radar. This is one of those times! The building in question is Friedland Properties' planned structure at Broadway and 77th Street, which has already provided some fairly epic destructoporn. Friedland has closed on a $125 million loan for the project, according to GlobeSt. We already knew it would be a 20-story tower, but to that we can add the number of units: 181 studios through three-bedrooms, all rentals. Thirty-seven of those apartments will be affordable, since the loan was funded by New York State Housing Finance Agency bonds. CVS has already agreed to lease some of the 40,000 square feet of Broadway-fronting retail space. The building also has a name: the Larstrand.
What we still don't know: what it will look like. Rumor has it the folks at SLCE have filed plans, but a little sleuthing on the architects' site turns up nothing. Anyone know more? Let us remind you that the tipline is always open.
· Luxury Rental Secures $125M in Financing [GlobeSt]
· Friedland Properties coverage [Curbed]