Northside Piers Secures Financing

Toll Brothers and L&M Equity Partners have secured $157 million in financing in order to construct a second tower on the Northside Piers site. “Two Northside Piers”, as it is called, will have 270 condo units (its not clear if that includes or is in addition to affordable units) in its 30-story tower. The Real Deal also reports that residents will begin moving in to One Northside Piers in the next three weeks.

Both of these reports are good news for the development of the waterfront, and the eventual creation of new public space along the East River.