Harry Macklowe is looking for a $1 billion senior construction loan for his residential conversion of One Wall Street, according to The Real Deal. Two-thirds of the loan will go toward construction costs.
The $1.5 billion project will convert the 50-story office tower into about 500 apartments, most of which will be condos and the rest rentals. The developer tapped residential brokerage CORE to market the units starting in 2017. Prices for the apartments have not been set. Whole Foods will lease a portion of the property's retail, taking 44,000 square feet.