One Thousand Museum Secures $225 Million Construction Loan

The late Zaha Hadid's masterpiece, One Thousand Museum, is in good hands as developers Louis Birdman, Gregg Covin, Kevin Venger and the Regalia Group have closed a $225 million construction loan as construction closes in on the 26th floor. The loan was put together by Robert Horowitz of Cooper-Horowitz with Bilzin Sumberg attorneys Phillip Sosnow and Jon Chassen representing the development group. The lender was Fortress Investment Group. The building, which is Hadid's first residential skyscraper in the western hemisphere, is over 50% sold and required over a $450 million buildout. One Thousand Museum will ultimately be a 62 story jewel with only 83 units for a very high-end, boutique offering. Units range from $5.8 million to $22 million and 4,600 SF to over 10,000 SF respectively. The building is expected to delivery September 2018.