Lightstone Closes $301 Million Financing for Condo Tower

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NEW YORK — Real estate investor and developer Lightstone has closed financing for 130 William Street, a new luxury development planned for Manhattan’s Financial District. The $305 million loan is financed by Mack Real Estate Credit Strategies, L.P.

In the heart of the Financial District, 130 William will stretch 800 feet high, and the building will be one of the tallest in lower Manhattan. Construction has already begun on the development which will feature luxury condominiums with river views and amenities.

Sales won’t begin for the condos until early 2018.

“We had strong demand from the lending community for this loan. It was a complicated and obviously large transaction. The Mack team’s knowledge of development and keen understanding of its nuances was instrumental in its consummation,” said Lightstone President Mitchell Hochberg. “130 William Street will be a world class luxury condominium with amazing views of the New York Harbor, Manhattan and Brooklyn. It will be one of the tallest buildings in lower Manhattan, and we’re proud to be developing what will be a remarkable 800-foot luxury condominium, complete with superior amenities.”

130 William will feature two floors of amenity spaces, including a wine cellar, pet spa, pool, sauna and massage room, fitness center, basketball court, yoga studio, lounge and game room, screening room, children’s play area, and a rooftop observatory terrace offering expansive views.