RFR Holding lands $360m loan for Manhattan luxury tower

Industrial and Commercial Bank of China has lent $360m in construction financing for the development of 100 East 53rd Street, a luxury condominium project in Manhattan’s Midtown East neighborhood. The long-stalled project, originally conceived as hotel and condo development, hit the brakes with the recession. RFR Holding, the lead on the development, brought China Vanke and Hines in to push forward with revised plans.