JPMorgan said to fund luxury-condo tower at One Wall Street

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JPMorgan Chase has agreed to provide Harry Macklowe with an $850 million loan to construct a luxury-condo tower at New York’s One Wall Street, enabling the developer to proceed with the.

From left: Rendering of Central Park Tower, One Wall Street, Gary Barnett, Jamie Dimon and Harry Macklowe (Credit: Getty Images) With its competitors wary of the high-stakes construction market, JPMorgan sees an opportunity to become the dominant commercial real estate lender in New York. And it plans write its own rules along the way.

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(Bloomberg) — JPMorgan Chase & Co. has agreed to provide Harry Macklowe with an $850 million loan to construct a luxury-condo tower at New York’s One Wall Street, enabling the developer to proceed with the conversion of a landmark office building even as the city’s high-end residential market.

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Sizing up commercial real estate’s lending giants. loan to fund his 72-story luxury condo tower at 138 East 50th Street. The structure already stood several stories tall, and Ceruzzi needed.

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