The previous residence of Santander financial institution at 45 E.. 53rd St.
The three way partnership of ZG Capital Companions and Rialto Capital Administration have nailed down $175 million in capitalization to finish the acquisition of 45 E. 53rd St. and renovate the 129,000 square-foot boutique workplace constructing, former residence to Santander financial institution.
We first reported on the pending acquisition from Florida-based MEK Administration Companies in April. The financing was organized by Newmark vice-chairmen Dustin Stolly and Jordan Roeschlaub with senior managing director Daniel Fromm.
Some $120 million is within the type of a mortgage from ACRES Capital. The remaining $55 million might be as fairness.
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