Wells Fargo finances construction of 35-story residential apartment building in New York City
Clients Wells Fargo Bank, National Association
Jones Day represented Wells Fargo Bank, National Association, in the $220 million financing to construct a 35-story, 466,000-square-foot residential apartment building at 205 E. 92nd Street, New York City. The building will contain (i) 231 apartments; (ii) approx. 60,024 square feet of community space to be sold to the Windward School; (iii) an approx. 43,394-square-foot gym (which will be pre-leased to Equinox Gym); (iv) approx. 12,000 square feet of open-air plaza space; and (v) approx. 826 square feet of retail space.
Jones Day drafted all loan and credit enhancement documents for the transaction and the syndication documents for the other lenders in the syndicate and reviewed all due diligence including a ground lease, condominium documentation, bond documentation, the lease with Equinox and the sales contract to the Windward School.