July 17, 2006 - The Westdeutsche ImmobilienBank (WIB), together with American and German banks, is financing the construction of a luxury residential complex in Manhattan’s desirable TriBeCa district. The entire project will cost around US$565 million, US$453 million of which will be financed for three years.
‘270 Greenwich Street’ is in a preferred residential area directly north of Battery Park very near to Ground Zero and the financial district by Hudson River Park. The building complex will be constructed by the renowned Edward J. Minskoff group, one of the most experienced New York property developers, which also built the World Financial Center.
The residential complex, which is currently under construction, consists of two tower blocks 32 and 10 storeys high containing 288 luxurious condominiums, and a second building housing 163 rental apartments. The property also avails of 400 underground parking spots and 14,500m² retail floor space. Whole Foods, a high-quality supermarket, the bookseller chain Barnes&Noble, a bank branch and the housewares store BedBath&Beyond have acquired these units.
WIB is a 100% subsidiary of WestLB and a specialist in all property financing and transactions in the WestLB group. In addition to its offices in Mainz (head office) and Münster, it has locations nationally in Düsseldorf, Hamburg, Munich and Mannheim, and internationally in London together with its representative offices in Madrid, New York, and Paris, and plans to open another representative office in the fourth quarter.
Westdeutsche ImmobilienBank
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