JLL Capital Markets secures $167m condominium inventory financing

Manhattan, NY JLL Capital Markets secured $167 million in condominium inventory financing for Jolie at 77 Greenwich St., a 90-unit condominium tower in Lower Manhattan that began closing units in September.

JLL represented the sponsor, Trinity Place Holdings Inc., to place the loan with Macquarie Capital, the advisory, capital markets and principal investment arm of Macquarie Group. The funds will be used to retire existing construction financing and fund remaining project costs.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Geoff Goldstein, Steve Klein and Alex Staikos.

The 500-ft. tower consists of 90 residential condominium units and 7,500 s/f of retail. Jolie features efficient residences with high-end interior finishes, a suite of indoor and outdoor amenities and views of the Hudson River, New York Harbor, Statue of Liberty and Verrazzano-Narrows Bridge. Jolie’s first residents have moved into their new homes and construction is nearing completion.

With architecture by FXCollaborative and interiors by Deborah Berke Partners, the boutique, full-service building has no more than four units per floor. The residences, averaging 1,534 s/f, range from one- to four-bedrooms. The building will also include a new kindergarten through 5^th grade public elementary school, which is accessed through a separate entrance located on Trinity Pl.

“Jolie at 77 Greenwich Street is an extraordinary Lower Manhattan residential project developed by a sponsor with unmatched experience in New York,” said Goldstein. “This stand-out property represents the powerful future of Lower Manhattan.”