Extell gets $105M condo inventory loan from Blackstone for property in Yorkville

Extell Development through the entity 95th And Third LLC as borrower signed a loan agreement with lender Blackstone Group through the entity Breds Iv Loan Holdings L.L.C. valued at $105 million for 49 parcels, including the tax class high-rise condominium apartment/elevated, residential unit (R4) and containing 49 residential units at 200 East 95th Street in Yorkville. The deal closed on February 24, 2021 and was recorded on March 5, 2021.

The average loan per unit is $2,142,857.
This is a condo inventory loan for unsold units at The Kent, a 104-unit residential condo development with a $569 million sellout. PincusCo data shows 47 of the units have sold and closed. Prior debt was provided by Capital One and Bank of China.
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