Extell Secures $1.13B Construction Loan From Tyko Capital For 655 Madison Avenue Development Site

Extell Development secured a construction loan for its development site located at 655 Madison Avenue, Manhattan. The asset encompasses a total of 764,698 square feet and is a 74-story supertall building. The loan amount reached $1,130,000,000, representing a significant financial commitment for the construction project.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,130,000,000
• Address: 655 Madison Avenue
• Market: Manhattan
• Lender: Adi Chugh - TYKO Capital
• Landlord: Gary Barnett - Extell
• Loan Type: Construction

The transaction involved key individuals, specifically Adi Chugh from TYKO Capital, who acted as the lender providing the substantial construction loan. Gary Barnett, representing Extell Development, is the landlord linked to this notable financing agreement in 2025.