February 25, 2020
Closings are underway at GID Development’s Waterline Square, the three-building luxury residential development on Manhattan’s Upper West Side. The complex’s first condominium residents are joining rental residents who moved into the development this fall.
Encompassing nearly five acres on Riverside Boulevard between West 59th Street to West 61st Street, Waterline Square completes one of the last remaining waterfront development sites on the UWS. “Waterline Square continues to be one of New York City’s leading condominium developments, in terms of dollar volume and number of contracts signed,” said GID Development president James Linsley.
Having secured one of the largest residential construction loans in 2016 for $1.243 billion, GID Development Group has already paid off the entire condominium portion of the financing package, totaling $585 million. Funding was originally provided by a bank syndicate led by Wells Fargo, along with co-lead arrangers HSBC, National Bank of Abu Dhabi and JP Morgan.
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