Durst Secures $1 Billion Loan Package

The Durst Organization has secured a a $1 billion financing package from a group of lenders led by Citi Private Bank. The Real Deal reports that some of the $1 billion may be used for property acquisitions. Durst has recently acquired the $175 million Clocktower development site in Long Island City and plans to construct a 63-story rental tower on the site. Durst is of course also developing the $1.5 billion, 7-building Hallets Point complex on the Astoria waterfront.

Rendering of the first building at Halletts Point in Astoria (Credit: Dattner)

Clare Doyle

Clare Doyle is a graduate of the M.A. program in Museum Studies at the University of Leicester, UK. She also holds a Graduate Diploma in Library and Information Studies as well as a B.A. in Archaeology and History from University Dublin, Ireland. She has worked for 30 years in library reference publishing in New York. Clare is the Vice President of Green Shores NYC, a non-profit group that advocates for a cleaner, greener and more connected waterfront in Astoria and Long Island City