Bank of China Lends $50M Against Moinian’s FiDi W Hotel and Residences



The Moinian Group landed a $50.7 million mortgage from the Bank of China on the W New York – Downtown Hotel and Residences at 123 Washington Street in Lower Manhattan, according to records filed with the New York City Department of Finance.

SEE ALSO: Bank of China Lends $120M on Moinian Group’s International Jewelry Center

The Bank of China financing, which closed in February and was made public on March 2, is part of the re-enhancement of the $50 million in 2007 liberty bonds that the New York City Industrial Development Agency originally issued for the development. The 400,000-square-foot mixed-use project was completed in 2010.

The 58-story tower, which is located between Albany and Carlisle Streets just south of the World Trade Center complex, contains a 217-key W Hotel as well as 223 condominium units—159 of which are unfurnished and 64 of which are furnished. The mixed-use site also includes a restaurant, bar and fitness center.

Current listings for a condo at Moinian’s building range from $1.3 million for a 606-square-foot one-bedroom to $10.3 million for a 2,052-square-foot four-bedroom condo, according to StreetEasy.

The Moinian Group has been busy financing its assets. Late last month, Commercial Observer Finance reported that the Moinian Group and Thor Equities took a $160 million loan from AIG Global Real Estate to refinance a 24-story office building at 245 Fifth Avenue in Manhattan’s NoMad neighborhood.

A representative for Bank of China did not respond to requests for comment. A representative for Moinian declined to comment.