Macklowe and Qatar Royal Seek $1.1 Billion Loan for One Wall Street

Developer Harry Macklowe’s Macklowe Properties and Dilmon LLC, the family office of Qatar’s Hamad bin Khalifa Al Thani, are seeking a loan of at least $1.1 billion to help refinance One Wall Street, a former Manhattan office tower that has been converted into condominiums.

Macklowe and Dilmon are working with Newmark to solicit five-year, non-recourse mortgage financing proposals from prospective lenders, according to a memorandum reviewed by Bloomberg . At $1.1 billion, the financing would represent a 48% loan-to-cost ratio, and proceeds are earmarked to repay construction debt and fund remaining construction costs, among other uses, the memo shows.