February 22, 2018
Natixis served as sole lead arranger in an $86.25-million floating-rate construction loan to affiliates of New York City-based Joy Construction and Maddd Equities. Loan proceeds will be used to pay off existing debt and to provide capital to complete a 110,727-square-foot, Class A office building located at 330 East 62nd St. on New York City’s Upper East Side.
The seven-story, build-to-suit office is 100% pre-leased to Memorial Sloan Kettering Cancer Center for an initial term of 30 years. The company plans to use the building for administrative offices. The property sits in the center of Memorial Sloan Kettering’s Upper East Side footprint, and is within walking distance of its main hospital campus located at 1275 York Ave.
The financing was arranged by Progress Capital’s Kathy Anderson and Brad Domenico.
For comments, questions or concerns, please contact Dennis Kaiser