GlobeSt.com, 5-Dec-19
By John Jordan
The Harbor 1500 riverfront apartment project has secured $100 million in financing from M&T Bank.
The 236-unit apartment building extends 765 feet into the Hudson River, developed by Hartz Mountain Industries and The Maxal Group. The financing came in the form of a $100-million syndicated loan from M&T Bank for the project that was completed in July.
The Harbor 1500 project marks an additional phase of Hartz Mountain Industries’ Lincoln Harbor Complex, which features a recently constructed Whole Foods Market, residential and office space as well as retail, hospitality, and service businesses. Apartments at Harbor 1500 are now available for lease.
Formerly serving as an office building and pier that provided warehousing and transshipment, the redeveloped Harbor 1500 property offers approximately 30,000 square feet of amenity space including a sky pool, spa, BBQ with bar seating, sunset lounge, fitness center, indoor and outdoor yoga studios, cinema screening room, children’s playroom, as well as rooftop decks offering views of the New York City skyline and George Washington Bridge.
“Having developed over 1,500 residential units over our history, we’re committed to providing residents with well-located, luxury rental communities that offer shorter commutes and a wealth of amenities,” says Gus Milano, president and COO of Hartz Mountain Industries. “We are excited to have closed on this financing with M&T Bank and The Maxal Group, which brings us another step closer to fulfilling that commitment.”
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