trending Market Intelligence /marketintelligence/en/news-insights/trending/uDOQRu66nTrJu3M0Rel24g2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: JPMorgan loaning $850M for Wall St. luxury project in NYC

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Report: JPMorgan loaning $850M for Wall St. luxury project in NYC

JPMorgan Chase & Co. is providing an $850 million construction loan for the One Wall Street luxury condominium project in Manhattan, N.Y., Bloomberg News reported, citing people with knowledge of the matter.

The news outlet said the deal comes as a "coup" for developer Harry Macklowe at a time when lenders have become wary of funding projects in Manhattan.

Macklowe plans a residential conversion of the landmarked 50-story office tower, along with a retail portion. Grocery chain Whole Foods had signed up for 44,000 square feet of the 155,000-square-foot retail section in July 2016. Back then, Macklowe was reported to be seeking a $1 billion construction loan, with the project having an estimated total construction cost of about $1.5 billion.

In March, Macklowe said the conversion will be largely condo units, a departure from earlier plans of having 65% rental units. He also said he planned to inject more equity into the project and take out a smaller loan.

Citing the unnamed sources, Bloomberg said JPMorgan, which has boosted its construction lending business in the past year, plans to recruit other lenders to participate in the funding.

A JPMorgan representative declined to comment, while a spokesman for Macklowe Properties said the developer was unavailable, according to the report.