Rockefeller Group Nabs $203M From Japanese Lender for NoMad Condo Project
By Mack Burke October 3, 2018 1:04 pm
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Rockefeller Group has nailed down $202.5 million in construction financing from Sumitomo Mitsui Trust Bank for its planned NoMad condominium project at 30-36 East 29th Street, according to records filed with the New York City Department of Finance.
The package comprises a $16.6 million senior mortgage, a $33.1 million project loan and a $152.7 million building loan, records show. The deal officially closed on Sept. 28.
This construction financing follows a $52.5 million preferred equity investment from Eyal Ofer’s Global Holdings Group in the 46-story luxury condominium development, as Commercial Observer first reported on Monday.
“We are excited to announce our second preferred equity investment in a major New York City project in less than four months,” Ofer, the chairman of Global Holdings Group, said in prepared remarks on the equity investment. “NoMad has rapidly become one of the most desirable neighborhoods in New York City, and we are delighted to be working with a strong sponsor like the Rockefeller Group on such a world-class property.”
Permits for the 639-foot-tall, 226,350-square-foot building were approved in June, as first reported by New York YIMBY. The property is expected to comprise 123 condominium residences, including three duplexes. It will also feature a pool, a fitness center, a squash room and storage for 70 bicycles.
CetraRuddy is the project’s architect and interior designer.
Officials at Sumitomo Mitsui could not immediately be reached. A spokesman for Rockefeller Group did not immediately respond to an inquiry, although the firm declined to comment previously on the preferred equity investment from earlier this week.
