Thursday, August 6, 2015

Today in $370 million loans


[EVG photo from last fall]

Here's news concerning 51 Astor Place/the IBM Watson Building/Death Star via the Commercial Observer:

Two major lenders took to Astor Place for another mega-deal in the hip college neighborhood.

Bank of America and Barclays provided New York-based Edward J. Minskoff Equities with a $370 million loan on the firm’s 51 Astor Place office tower ...

The real estate acquisition and development firm is using the loan to refinance and pay off construction financing on the office building...

According to estimates, development of the building cost some $300 million. The office part of the building is fully occupied ... with the first retail tenant — CVS, woot — on its way.

What would you do with a $370 million loan?

9 comments:

Anonymous said...

I'd buy a round of drinks at Mother of Pearl

Anonymous said...

I'd pay off my $20,000 citibank visa and $3k of irs debt. Then I'd use the rest as a downpayment to leverage buy one of trump's smaller casino's, set up a shadow corporation offshore and transfer all of it's cash there and throw the casino into bankruptcy forcing the banks and US govt to pay for the mess while I sail around the world with a couple billion in the bank.

...or maybe run for president.

Anonymous said...

Deathstar killed Astor Place and St Mark's Place for me. Might as well throw in the whole East Village for that matter. It all sucks now.

Makeout said...

Duh. Build a time machine. BTW- which one is the dog? Sherman or Mr. Peabody? I just can't remember...

Anonymous said...

Mr. Peabody.

DrBOP said...

"And if I had four wishes that I could make this holiday season, first would be the crap about the kids..."
"The Holiday Wish" Steve Martin :

https://www.youtube.com/watch?v=w6w5vgYVVmA

Just never gets old :+)

Anonymous said...

I'd buy the Death Star and level it.

Tom Stir said...

read it and weep, but what is going in across the street ,on both sides of St Marks will make the
Death Star look like a masterpiece in comparison,that is the real crime.

Anonymous said...

"Hip college neighborhood" shudder...this isn't boston