Fortis Property Group LLC has received a $66 million
mezzanine loan from Mack Real Estate that partially recapitalizes 1 Seaport, a
60-story, 98-unit luxury condominium tower in Manhattan’s Financial District.
The loan was secured by a NKF Capital Markets team led by
Co-Chairmen Dustin Stolly and Jordan Roeschlaub and assisted by Managing Director
Nick Scribani. The Mack Real Estate team was led by Kevin Cullinan and Jared
Horowitz. Representing Fortis as legal counsel was Eric Schoenfeld, co-chair of
Tannenbaum Helpern Syracuse & Hirschtritt LLP’s Real Estate, Construction
& Environmental Law group. Founded in 2005, Fortis is a privately held real
estate investment and management firm based in Brooklyn that has owned and
developed more than $5 billion in commercial and residential real estate.
Located at 161 Maiden Lane, 1 Seaport is also known as
Seaport Residences and has sold 72 units at listing and without discounts. The
anticipated sell-out of the building is expected to exceed $275 million. It has
been among the fastest-selling recent projects for Douglas Elliman.
“Located in the heart of the Financial District, 1 Seaport
will provide residents a dynamic living experience that few buildings in the
city can match,” Stolly said in a prepared statement.
“From their condominiums, residents will enjoy stunning
views that rarely become available in Manhattan,” Roeschlaub added in prepared
remarks.
The property overlooks the East River and has two full
amenity floors including a hydrotherapy area and a pool that spans the 30th
floor. The sixth floor has fitness space and activities for adults and
children.
Also in Manhattan, the NKF team of Stolly, Roeschlaub and
Scribani along with Chris Kramer recently secured a $125 million loan for the
refinancing of Tower 56, a Class A office building in Midtown at 126 E. 56th
St., for owner Pearlmark. The tower, which has undergone an extensive capital
improvement by Pearlmark, is currently 92 percent occupied.
1 Seaport isn’t the only luxury residential building making
news in Manhattan’s Financial District. In September, leasing began at Twenty
Broad Street, a 533-unit, luxury adaptive reuse located next to the landmark
New York Stock Exchange. The 29-story building was originally constructed as an
extension of the exchange in 1956.
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