Real Estate
NYC Project to Convert Former Pfizer Headquarters Lands $135 Million Loan
- Project on 42nd Street is expected to have about 1,600 units
- New loan is secured by fee interest in 235 E. 42nd St.
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The effort to convert Pfizer Inc.’s former New York headquarters into residences secured financing to help developers forge ahead on the project near Grand Central Terminal.
Investment firm Northwind Group provided the $135 million acquisition loan to David Werner Real Estate Investments, according to a statement Wednesday. The debt is secured by the fee interest in 235 E. 42nd St.