565 Broome Street is the premier luxury condominium building in downtown Manhattan. Designed by world renowned architect Renzo Piano, the building features two 25-story towers within 290 feet of height, and includes 112 condos (201,000 NSF), approximately 26,000 SF of retail space, and 40 automated parking spaces.
HREV structured an innovative capital stack to fund the total development costs of over $550 million. The project was capitalized with over $130 million of institutional equity, and a $320 million construction loan from Bank of China, representing one of largest construction loans in New York City during the last cycle. HREV was also able to raise up to $58 million of EB5 money.
The condominiums feature top in class finishes and features from interior design firm RDAI. Every aspect of the building was planned with finest attention to detail and scale. From the world class amenity package to the private porte-cochere, 565 Broome Street provides an exclusive and intimate residential experience. Construction was completed in Q2 2019.