Munich/New York, 14 August 2020 - pbb Deutsche Pfandbriefbank has provided $ 150 million to Aurora Capital Associates and William Gottlieb Real Estate for the refinancing and completion of the office and retail building 'Solar Carve Tower' in the New Yorker Meatpacking District.

The Solar Carve Tower, which was completed in May 2019, is a 10-story, boutique office and retail building located at 40 Tenth Avenue within Manhattan's prime Meatpacking District. The Property is situated in between 13th and 14th Streets, bounded by Tenth Avenue and the High Line, which runs directly east of the Property, allowing easy access to one of the most desirable locations in Manhattan.

The Property was designed by Studio Gang Architects and includes full glass storefronts with more than 430 feet of combined frontage. It features unparalleled physical attributes and unobstructed views of the Hudson River and Lower Manhattan. The office space compromises of 14,000 sqm in total - around 1,300 sqm per floor - and features soaring 16-foot ceiling heights. The floor plates were specifically designed to appeal to the market.

The surrounding area is zoned for commercial, industrial, and manufacturing uses and mostly comprises multi-story commercial and residential buildings featuring ground-level retail and restaurants.

David McNeill, Head of RE Finance USA at pbb commented: 'We are pleased to be able to finance both, spectacular architecture with a very sustainable building concept by financing the Solar Carve Tower.'

Attachments

  • Original document
  • Permalink

Disclaimer

Deutsche Pfandbriefbank AG published this content on 14 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2020 15:33:18 UTC