Natixis Lends $86M for Development of UES Medical Center

Via Commerical Observer

Natixis has provided approximately $86.3 million in financing to Joy Constructionand Maddd Equities for the development of a Class-A office building at 330 East 62nd Street on the Upper East Side to be used as administrative offices for a cancer center, the lender announced.

The 24-month, interest only and floating-rate construction loan satisfies previous debt and provides additional capital to complete the development of the 110,727-square-foot office property, which was leased out in full to Memorial Sloan-Kettering Cancer Center for an initial term of 30 years in August 2017, according to records filed with the New York City Department of Finance. MSKCC intends to utilize the building for its administrative offices, according to information from Natixis.

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