Olshan is Co-Counsel for $218 Million Financing for Luxury Residential Rental Development in Flatiron District
The Commercial Observer reported that a joint venture of Friedland Properties and Rose Associates secured a $218 million financing from Wells Fargo Multifamily Capital for refinancing of 7 West 21st Street, located between Fifth and Sixth Avenues in the Flatiron District. The luxury apartment development includes two 18-story buildings, with frontage on West 21st and West 22nd Streets. The property is divided into four condominium units to permit the structure needed for the bond financing. Real estate partner Thomas D. Kearns served as co-counsel to the borrower.