NEW YORK CITY — Barings LLC has provided a $250 million construction loan for a 345,000-square-foot academic and residential building in the Morningside Heights neighborhood of Manhattan. A partnership between Australian developer Lendlease and New York-based L+M Development Partners Inc. was the borrower. Located at 100 Claremont, the 41-story building will feature 165 residential condominiums, 54,000 square feet of academic space for the Union Theological Seminary and 49,000 square feet of faculty housing. The condominium residences will include a mix of one-, two-, three- and four-bedroom units. Robert A.M. Stern Architects designed the project. Christopher Peck and Scott Aiese of JLL arranged the loan. Construction is slated to be complete in spring 2023.
The building is located at 100 Claremont.
Barings Provides $250M Construction Loan for Academic, Residential Building in Manhattan
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