Kasowitz Represents JDS Development in $650 Million Loan for Luxury Multifamily Construction Project

Kasowitz Represents JDS Development in $650 Million Loan for Luxury Multifamily Construction Project

Kasowitz represented JDS Development Group in a $650 million mortgage and mezzanine loan for a luxury multifamily construction project located at 626 First Avenue in Manhattan, known as the “American Copper Buildings.”  The 800-unit rental property will consist of two towers reaching 41 and 48 stories in height connected by a sky bridge, and will feature an amenity package including an indoor lap pool and lounge in the sky bridge, a rooftop deck and infinity pool, a fitness center and spa.  The development is slated for completion in 2017.

The Kasowitz team that represented JDS Development in this matter includes partner Douglas B. Heitner and associates Jeffrey DiChiara, Melissa D. Goldberg, Steven J. Shafer and Erik Nygaard.