**Viñoly-Designed Condo Tower Secures $350M in Financing**
Funds managed by affiliates of Fortress Investment Group, Bizzi & Partners, and Bilgili Holding have secured $350 million in financing for The Greenwich by Rafael Viñoly, a 272-unit residential condominium tower located at 125 Greenwich Street in Lower Manhattan. The lender for the deal was Starwood Property Trust.
“Starwood Property Trust’s entry into the deal and their extensive real estate experience will create an even stronger group backing The Greenwich by Rafael Viñoly, and we’re delighted to work with their team again,” said Tim Sloan, co-head of real estate at Fortress.
The loan transaction was advised by Newmark and Arrow Real Estate Advisors. The Newmark team included Jordan Roeschlaub, co-president of Global Debt and Structured Finance; Nick Scribani, vice chairman; Daniel Fromm, senior managing director; and Holden Witkoff, associate director. The Arrow Real Estate Advisors team included Morris Betesh, founder and managing partner; Alex Bailkin, senior vice president; and Matt O’Hanlon, senior associate.
“This transaction allows the development to be completely refinanced, with a significant rate reduction,” said Betesh. “We are proud to play a role in advancing one of Rafael Viñoly’s final architectural masterpieces and shaping the future of luxury living in Downtown Manhattan.”
