Sidley represented the joint venture team comprised of Global Holdings Management Group (US), Inc.; MAG Partners; and Safanad, as the Borrower of MT&T Bank’s US$141.4 million bridge loan for the refinancing of Anagram Turtle Bay, a multi-family rental building located in Manhattan’s Turtle Bay neighborhood.
The 23-story residential tower features varying apartment sizes, retail, an outdoor garden space, a rooftop lounge, and fitness studio. Thirty percent of the residential units have been set aside as affordable housing units supporting New York City’s housing initiatives.
The Sidley team was led by Steven Koppel (Real Estate), Jared Feldman (Real Estate), and Dan Altman (Tax).
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