$260 Million Financing for 202 Broome Street

Fried Frank acted as counsel to a joint venture led by Taconic Investment Partners LLC and including BFC Partners, L+M, and the Goldman Sachs Urban Investment Group in connection with its US$260 million loan from Square Mile Capital Management for the development of 202 Broome Street in the Essex Crossing development.

Upon its completion, 202 Broome will include 175,000 square feet of office space, 83 luxury condos, and 34,500 square feet of retail.

Essex Crossing is a 1.9-million-square-foot development in the Lower East Side that comprises nine sites with 1,079 new residences, of which 561 will be affordable, 450,000 square feet of retail, and 400,000 square feet of office space, community attractions, and green space.

Taconic Investment Partners is a principal investment firm specializing in investments in real estate. The company, led by Charles R. Bendit and Paul E. Pariser, is based in the New York, New York.

The Fried Frank team included real estate partner Michael J. Werner (Picture) and real estate associates Simon J. Elkharrat and Adam E. Ezrapour.

Involved fees earner: Simon Elkharrat – Fried Frank Harris Shriver & Jacobson; Adam Ezrapour – Fried Frank Harris Shriver & Jacobson; Michael Werner – Fried Frank Harris Shriver & Jacobson;

Law Firms: Fried Frank Harris Shriver & Jacobson;

Clients: Taconic Investment Partners LLC;

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Author: Ambrogio Visconti