Wells Fargo Refis Battery Park City Resi Tower With $98M Loan
By Andrew Coen March 8, 2023 2:36 pm
reprints
Rockrose Development has landed a $97.7 million debt package to refinance its 42-story luxury residential tower in Battery Park City, property records show.
Wells Fargo supplied the loan on the developer’s Tribeca Pointe property, which Rockrose built in 1999, according to property records made public Tuesday.
Located at 399 Chambers Street next door to Stuyvesant High School, and also known as 41 River Terrace, Tribeca Pointe features 340 apartments with 70 of the units designated as affordable housing. The Battery Park City Authority reached an agreement with Rockrose last year to preserve the 70 affordable units through 2069 for households making at or below 50 percent of the area median income.
Apartments at Tribeca Point include a mixture of studios, one-bedroom and two-bedroom units. The Gruzen Samton Steinglass-designed property’s amenities consist of a roof deck, a fitness center, a solarium, a children’s playroom, laundry facilities and a 24-hour attended lobby.
Market-rate apartments available now at Tribeca Pointe range from $4,542 for a studio to $8,388 for two bedrooms, according to Rockrose’s website.
Officials at Rockrose and Wells Fargo did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com
