Newmark Secures $985 Million Financing on Behalf of 80 Clarkson Developers in New York City
Newmark Group, Inc. (Nasdaq: NMRK) has arranged a $985 million loan for the construction of 80 Clarkson, an ultra-luxury condominium development in Manhattan's West Village. The financing was secured on behalf of Zeckendorf Development, Atlas Capital Group, and The Baupost Group , with funding provided by Cale Street Partners and Farallon Capital Management.
The project, located on one of the last waterfront residential sites in the West Village, will offer over 100 condominiums with 360-degree views, outdoor spaces, and high-end amenities. Sales are scheduled to launch next year, with completion expected in 2026 and 2027. Zeckendorf Development, known for record-breaking projects, is leading the design and development of this skyline-defining property.
Newmark Group, Inc. (Nasdaq: NMRK) ha organizzato un prestito di 985 milioni di dollari per la costruzione di 80 Clarkson, un sviluppo condominiale ultra-lusso nel West Village di Manhattan. Il finanziamento è stato ottenuto per conto di Zeckendorf Development, Atlas Capital Group e The Baupost Group, con fondi forniti da Cale Street Partners e Farallon Capital Management.
Il progetto, situato su uno degli ultimi siti residenziali fronte mare nel West Village, offrirà oltre 100 condomini con vista a 360 gradi, spazi esterni e servizi di alta gamma. Le vendite sono programmate per l'inizio del prossimo anno, con completamento previsto nel 2026 e 2027. Zeckendorf Development, noto per progetti da record, sta guidando la progettazione e lo sviluppo di questa proprietà che definirà lo skyline.
Newmark Group, Inc. (Nasdaq: NMRK) ha organizado un préstamo de 985 millones de dólares para la construcción de 80 Clarkson, un desarrollo de condominios ultra-lujosos en el West Village de Manhattan. El financiamiento fue asegurado en nombre de Zeckendorf Development, Atlas Capital Group y The Baupost Group, con fondos proporcionados por Cale Street Partners y Farallon Capital Management.
El proyecto, ubicado en uno de los últimos sitios residenciales frente al mar en el West Village, ofrecerá más de 100 condominios con vistas de 360 grados, espacios al aire libre y comodidades de alta gama. Se prevé que las ventas se lancen el próximo año, con la finalización esperada en 2026 y 2027. Zeckendorf Development, conocido por proyectos que rompen récords, está liderando el diseño y desarrollo de esta propiedad que definirá el horizonte.
Newmark Group, Inc. (Nasdaq: NMRK)는 맨하튼 웨스트 빌리지에 위치한 울트라 럭셔리 콘도미니엄 개발인 80 Clarkson 건설을 위한 9억 8500만 달러 대출을 마련했습니다. 이 자금은 Zeckendorf Development, Atlas Capital Group, The Baupost Group을 대신하여 확보되었으며, Cale Street Partners와 Farallon Capital Management가 자금을 제공했습니다.
서부 마을의 마지막 수변 주거지 중 하나에 위치한 이 프로젝트는 360도 전망과 야외 공간, 고급 편의 시설을 갖춘 100개 이상의 콘도미니엄을 제공합니다. 판매는 내년에 시작될 예정이며, 2026년과 2027년에 완공될 것으로 예상됩니다. 기록적인 프로젝트로 잘 알려진 Zeckendorf Development가 이 스카이라인을 정의하는 부동산의 디자인 및 개발을 주도하고 있습니다.
Newmark Group, Inc. (Nasdaq: NMRK) a organisé un prêt de 985 millions de dollars pour la construction de 80 Clarkson, un développement de condominiums ultra-luxueux dans le West Village de Manhattan. Le financement a été obtenu pour le compte de Zeckendorf Development, d'Atlas Capital Group et du Baupost Group, avec des fonds fournis par Cale Street Partners et Farallon Capital Management.
Le projet, situé sur l'un des derniers sites résidentiels en bord de mer du West Village, proposera plus de 100 condominiums avec vue à 360 degrés, des espaces extérieurs et des équipements haut de gamme. Les ventes devraient commencer l'année prochaine, avec une achèvement prévu en 2026 et 2027. Zeckendorf Development, connu pour ses projets records, dirige la conception et le développement de cette propriété qui définira la ligne d'horizon.
Die Newmark Group, Inc. (Nasdaq: NMRK) hat ein Darlehen von 985 Millionen US-Dollar für den Bau von 80 Clarkson, einer ultra-luxuriösen Eigentumswohnanlage im West Village von Manhattan, arrangiert. Die Finanzierung wurde im Auftrag von Zeckendorf Development, Atlas Capital Group und The Baupost Group gesichert, wobei die Mittel von Cale Street Partners und Farallon Capital Management bereitgestellt wurden.
Das Projekt, das sich an einem der letzten Uferwohnorte im West Village befindet, wird über 100 Eigentumswohnungen mit 360-Grad-Aussicht, Außenbereichen und hochwertigen Annehmlichkeiten anbieten. Der Verkaufsstart ist für das nächste Jahr geplant, mit einem Abschluss, der im 2026 und 2027 erwartet wird. Zeckendorf Development, bekannt für rekordverdächtige Projekte, leitet das Design und die Entwicklung dieser skyline-prägenden Immobilie.
- Secured a substantial $985 million loan for a high-profile real estate project
- Involvement in a prestigious ultra-luxury condominium development in a prime Manhattan location
- Collaboration with well-known developers and investors
- Project expected to be completed in 2026-2027, indicating long-term revenue potential
- None.
Insights
The
However, investors should note the project's long timeline, with completion expected in 2026-2027. This extended period exposes the development to market fluctuations and potential economic shifts. The ultra-luxury segment's performance will be important to watch, as it can be more volatile than other real estate sectors.
For Newmark Group (NMRK), securing this deal demonstrates its strong position in the commercial real estate advisory space, potentially boosting investor confidence in the company's ability to handle large-scale, complex transactions.
The 80 Clarkson project is poised to be a significant addition to Manhattan's ultra-luxury real estate landscape. Its location in the West Village, one of the last waterfront residential development sites, gives it a unique selling proposition. The 360-degree views and comprehensive amenity package align with current trends in luxury living, potentially commanding premium prices.
However, the luxury condo market in New York City has been facing challenges, including oversupply and softening demand. The success of this project will depend on economic conditions and the strength of the ultra-high-net-worth buyer market in 2026-2027. The involvement of Zeckendorf Development, with its track record of attracting high-profile buyers, could be a key differentiator.
Investors should monitor pre-sales performance when they launch next year, as it will be a important indicator of the project's potential success and the overall health of the luxury real estate market in New York City.
The
For investors, this project offers insights into the confidence levels in the high-end real estate sector. The involvement of institutional investors like The Baupost Group suggests a long-term bullish outlook on prime New York City property. However, the extended timeline to completion (2026-2027) presents both opportunities and risks.
Potential investors should consider the project's unique attributes - prime location, waterfront availability and luxury amenities - against broader market trends, including interest rates, foreign investment policies and luxury housing demand. The success of this venture could have ripple effects on valuations across the high-end real estate market and related sectors.
80 Clarkson is ideally located on one of the last waterfront residential development sites in the West Village, offering unparalleled 360-degree views of the area. The unique collection of homes with outdoor space and ultra-luxury finishes is complemented by one of the most thoughtfully designed and comprehensive amenity packages in the city, as well as ground-floor retail space.
"We're proud to have arranged this financing by bringing together two unique sources of capital," said Firestone. "This complex, highly structured financing package will enable construction of a skyline-defining property that is truly one of one in the city."
Offering over 100 condominiums, sales of units are scheduled to launch next year with completion expected in 2026 and 2027.
Zeckendorf Development, known for record-breaking projects such as 15 Central Park West, 520 Park Avenue and 18 Gramercy Park South, is leading the design and development of the property. Its gold standard for ultra-luxury condominiums has attracted captains of industry and distinguished celebrities, developing for performance instead of volume.
About Atlas Capital Group
Atlas Capital Group, LLC is a full-service real estate investment, development and management firm. The firm was founded in 2006 by Jeffrey Goldberger and Andrew Cohen to invest in opportunistic and value-added real estate transactions in core gateway cities, with a primary focus on
About The Baupost Group LLC
The Baupost Group LLC is a
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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FAQ
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