Extell Development Secures $425M Construction Loan For Life Sciences Property On Upper East Side

1520 1st Avenue, New York City, New York 10075, United States

$425,000,000

$1,011/SF

Building Size

420,000 SF

Asset Type

Other

Closing

Oct 26, 2022

AI

The property involved in this closed transaction is a Life Sciences asset located at 1520 1st Avenue in the Upper East Side market. The property spans approximately 420,000 square feet and is owned by Extell Development, represented by Gary Barnett.

Summary of transaction details

Property Type: Life Sciences
Transaction Amount: $425,000,000
Lender: rexmark''>Rexmark, InterVest Capital Partners, Pacific Western Bank & Harbor Group International
Loan Type: Construction
Landlord: Extell Development - Gary Barnett
Date: 10/27/2022

The lenders involved in this transaction include Rexmark, InterVest Capital Partners, Pacific Western Bank, and Harbor Group International. The loan amount for this construction project is $425,000,000.

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