RXR shaves Extell’s One Manhattan Square loan by $163M

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If Gary Barnett can’t score a big loan at very favorable terms, is there hope for anyone in New York. In March, RXR agreed to provide $463 million in mezzanine financing for the 80-story Lower East.

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RXR shaves Extell’s One Manhattan Square loan by $163M . I noted this in a past post and this is proof it’s beginning. Bridge loans are crucial for the developers across the country esp NYC, and with multiple billions in loans coming due in 2017 we could be in for a massive credit crunch within the commercial loan sector

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http://politico.pro/2bpURfq WAIT AND SEE- "RXR shaves Extell’s One Manhattan Square loan by $163M," by The Real Deal’s mark maurer: “For the fourth time, Extell Development, one of the city’s foremost.

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RXR shaves Extell’s One Manhattan Square loan by $163M If Gary Barnett can’t score a big loan at very favorable terms, is there hope for anyone in New York? For the fourth time, Extell Development, one of the city’s foremost developers, announced that the closing of a crucial mezzanine loan for three projects from fellow developer RXR.

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