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With a $1.5B construction loan from a group led by Wells Fargo, Hudson Yards' developers have fully capitalized the mega-project's first phase.
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Related Beal's Thursday groundbreaking in the Seaport revealed the second expansion in a week for Mass Innovation Labs.
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The developers are seeking a public-private financing structure to make the new plan feasible.
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The 1.4M SF office tower by Related Cos. and Oxford Properties Group broke ground in June.
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Related Ross landed more than half a billion dollars to finish constructing two office towers in downtown West Palm Beach.
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Different property types will respond differently to a recession.
Related Beal: New Developer in Town
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Related and Oxford were able to complete a $2B capitalization of 35 Hudson Yards with $1.2B debt financing from Children's Investment Fund.
From REITs to hoteliers to brokerage firms and tech giants, commercial real estate companies felt the pain of Monday's stock market plunge.
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The Brooklyn megaproject is far behind schedule in deliver thousands of promised apartments.
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