![]() ![]() Oxford and another Related partner, Mitsui Fudosan America, agreed to provide the remaining financing. A consortium of banks provided the financing: Bank of China, Deutsche Bank, Wells Fargo, HSBC and Sumitomo Mitsui Banking Corporation. In 2017, the first phase of the development marked more than $18 billion raised after Related closed on a $1.5 billion senior construction loan for the project. The price tag on the Foster + Partners-designed building is $1,407 per square foot, eclipsing the $1,230 per square foot cost of Tishman Speyer’s “Spiral” across the street. The project’s all-in price tag is about $4 billion. The transaction closed last month and stems from a financing deal reached in 2017, according to a Related spokesperson. Wells Fargo provided a $348.8 million rehab construction loan to Related Companies and Oxford Properties Group for its development at 50 Hudson Yards, PincusCo reported. 6, 2022, 11:28 a.m.: One of the most expensive office projects in New York City history picked up a bit more financial support. Stephen Ross and 50 Hudson Yards (Getty Images, Hudson Yards New York)
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