CTBUH Global News
Jun30

Written by:host
6/30/2009 12:26 PM 

Jinxed Bank of America Tower in NYC Lines Up $1.3B Loan to Finish Construction  

June 29, New York

New York City Mayor Michael Bloomberg is calling it the biggest commercial real estate financing package created since the Recession kicked in.  Five banks have put together a $1.3 billion loan for The Durst Organization, the developer of the 55-story, 945-foot tall Bank of America Tower.  Terms of the deal were not immediately disclosed. The deal took nine months to complete.  The loan will allow Durst to complete construction of the Midtown skyscraper...more

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