Akin Gump Advises on $320 Million Construction Financing of New York Condominium Tower

(New York) – Akin Gump advised Aronov Development in the financing of a new New York City apartment tower, advising a joint venture on a $320 million construction loan for the building, designed by Renzo Piano.

Aronov, along with two other partners, secured the financing from Bank of China for the construction and development of the new SoHo Tower. Construction on the 320,000 square foot building, to be located at 565 Broome Street, began last month with completion expected in 2018.

David Phelps and Arsineh Baghdasarian, partner and counsel, respectively, in Akin Gump’s real estate practice in Los Angeles, led the team advising Aronov.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

 # # #