Kasowitz Represents Cottonwood Group in $180 Million Loan for New York’s Skinniest Residential Skyscraper

Kasowitz Benson Torres represented Cottonwood Group, a Los Angeles-based private equity real estate investment firm, in the closing of a $180 million construction loan to Five Points Development, a real estate development firm, to build a 56-story tower at 262 Fifth Avenue in New York City.  The loan closed on October 31, 2023 and includes a $50 million junior mezzanine loan from Cottonwood and $130 million senior loan, consisting of a mortgage loan and a senior mezzanine loan, from Madison Realty Capital, a New York-based private equity firm.

The Kasowitz team representing Cottonwood Group was led by real estate transactions partner Darwin Huang and includes partner David Szeker, Special Counsel Matthew S. McElroy and associate Kathleen M. Maurer.