Eichner Lands $420 Million to Build NYC Condo For Super-Rich

The New York developer, who suffered high-profile failures in two real estate busts, late last week secured $420 million in financing for a nearly 800-foot condo tower just south of Madison Square Park in Manhattan, according to multiple people familiar with the financing. The commitments - including more than $340 million from a Goldman Sachs Group debt fund and more than $80 million in preferred equity from Dune Real Estate Partners and Fortress Investment Group - give the planned glassy tower the funding to be completed, these people said.

http://ift.tt/1uR4fiI