Extell Development Secures $175M Construction Loan For Development Project At 1522 First Avenue In Yorkville, Manhattan

Extell Development, represented by UES Commercial LLC, has secured a $175 million construction loan from Cain International Agent Limited for the development project at 1522 First Avenue in Yorkville, Manhattan. The development site has a building square footage (BSF) of 322,838 and is located in the Yorkville market of Manhattan.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $175,000,000
• Lender: Jonathan Goldstein - Cain International
• Landlord: Marc Kwestel - Extell Development

The loan, provided by Jonathan Goldstein of Cain International, will support the construction of the development project at 1522 First Avenue. Marc Kwestel, the landlord and representative of Extell Development, is overseeing the project.