JDS Development Group Featured in The Real Deal for $725 Million Construction Loan

The Real Deal | June 2015

The financing was one of the largest construction loans ever provided for a residential tower in

New York City at the time of closing. AIG served as the senior lender with $400 million in debt,

while Apollo Global Management provided a $325 million mezzanine loan.

The tower, designed by SHoP Architects, is planned to stand 1,438 feet tall at its pinnacle —

placing it among the tallest residential buildings in the Western Hemisphere. The 60-unit

condominium would rise above the landmarked Steinway Hall, a 1925 building that served as the

former showroom for Steinway & Sons pianos.

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