Newmark Group has successfully secured a $985 million loan for the construction of 80 Clarkson, an ultra-luxury condominium development in Manhattan’s West Village. The financing was arranged on behalf of Zeckendorf Development, Atlas Capital Group and The Baupost Group LLC by Newmark’s Jordan Roeschlaub and Chris Kramer in collaboration with Jonathan Firestone. Cale Street Partners and Farallon Capital Management provided the funding.
According to Firestone, this complex financing package brings together two unique sources of capital to enable the construction of a one-of-a-kind property that will redefine Manhattan’s skyline. Zeckendorf Development is leading the design and development of 80 Clarkson, following their successful projects such as 15 Central Park West, 520 Park Ave., and 18 Gramercy Park South. Sales are set to launch next year with completion expected in late-2026 or early-2027.
In July, Connect CRE reported that the project had secured financing; however at that time fewer details were available about it.
