BDT & MSD Partners supplied financing for 222 Broadway project.
By TRD Staff
01.17.25
The latest Financial District office-to-residential conversion has the money in place to get the project going.
Jeff Gural’s GFP Real Estate and TPG Real Estate scored a $288 million construction loan for its project at 222 Broadway in Lower Manhattan, the Commercial Observer reported. BDT & MSD Partners supplied the debt for the redevelopment.
Newmark’s Jordan Roeschlaub and Chris Kramer arranged the loan. None of the parties involved in the deal immediately commented to the Observer.
Over the summer, GFP and TPG submitted an alteration application for the site. The joint venture partners plan to transform the 770,000-square-foot property into a 31-story, 798-unit residential property.