As foundation work proceeds on two dramatically styled downtown apartment towers, the high-profile riverfront project just landed the cash foundation it needed.
Atlas Capital Group nailed down a $985 million construction loan to build the towers at 570 Washington Street and 80 Clarkson Street, which it’s developing with Zeckendorf Development and Baupost Group, sources told The Post.
The fresh financing — believed to be the largest Manhattan residential-construction loan since before the pandemic — means the full-block project will soon “go vertical” at the Hudson River site between Houston and Clarkson streets.
One tower is expected to be finished in 2026, the other in 2027.
A representative for Atlas didn’t respond to a request for comment.
The Atlas website says the project, which it officially calls 80 Clarkson, “will consist of over 100 luxury homes in two towers rising up to 450 feet offering dramatic river and city views from every room.”
A source said there will be 440 apartments in all, including 170 senior affordable ones.
The lenders, according to sources, are London-based Cale Street Partners and San Francisco-based Farallon Capital Management.
The Post first reported the development team was buying the vacant 1.3-acre site in February 2022, and, later that year, that they secured a $322 million financing package from Blackstone – which kick-started the $1.25 billion project.
The design architect is COOKFOX, which also worked on the St. John’s Warehouse adaptive-reuse project next door that is now home to Google.
Zeckendorf, which is spearheading the new development, was also behind the so-called “Limestone Jesus” at 15 Central Park West.
The tower has been home to such boldface names as former Goldman Sachs CEO Lloyd Blankfein, Robert De Niro, Denzel Washington, Alex Rodriguez and NASCAR driver Jeff Gordon.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
