Skip Ribbon Commands
Skip to main content

News release

NEW YORK, NY

Ultra-Luxury Condominiums Slated for NoHo Manhattan

JLL secures $58.3 million in construction financing for One Great Jones Alley


NEW YORK, Oct. 27, 2015 – On behalf of Madison Realty Capital, JLL’s Capital Markets experts today announced the firm has secured $58.3 million in construction financing for the development of One Great Jones Alley, an ultra-luxury condominium building in Manhattan’s NoHo neighborhood. A national bank provided the loan.
 
Managing Director Aaron Appel and Senior Vice President Jonathan Schwartz led the JLL team on the transaction.
 
“Madison’s stellar market reputation and creative property design generated tremendous capital markets interest,” said Appel. “NoHo is one of Manhattan’s top residential markets but has high barriers to entry – lenders recognized the unique opportunity this project presented.”
 
One Great Jones Alley includes 16 condominium units and approximately 8,910 square feet of retail space. Building amenities will feature a fitness center and spa, children’s play area and landscaped second floor terrace. The property is located along Broadway between Great Jones Street and East 4th Avenue, near shopping, dining, cultural attractions and the city’s public transportation.
 
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
 
For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.