New York Project Lands $79M Loan From Madison, Hana
Law360 (November 15, 2019, 5:49 PM EST) -- Developer Real Estate Equities has landed $79.1 million in financing for a Manhattan mixed-use project from Madison Realty Capital and South Korea-based financial services firm Hana Financial Group, according to a Friday announcement from Madison Realty.
Real Estate Equities Corp. scored $48 million from Madison Realty for the project, located at 3 St. Mark's Place, according to Madison Realty's announcement, which noted Hana Financial contributed an additional $31.1 million.
The property sits a block east of the Astor Place subway station where the 4 and 6 trains stop.
"Hana approached us to provide the first mortgage loan on this financing package in...
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