Bank OZK and JVP Management Provide $967M Construction Financing for UWS Project
About 4-years after Extell Development initially announcing plans for a 775-foot-tall Upper West Side condominium development at 50 West 66th Street, the project’s construction took another step forward after legal challenges contributed to delays. The developer has secured $967 million in construction financing of which Bank OZK supplied an $800 million senior loan and JVP Management provided $167 million in mezzanine financing.