The project is linked directly to Grand Central Terminal in New York City, signaling continued lender and developer backing for prime office development.
BXP Inc. has locked in a $1.2 billion construction loan for a 46-story office tower in New York City that will connect directly to Grand Central Terminal. The financing stands out at a time when the office sector remains under pressure, underscoring that capital is still available for large, transit-linked developments in prime locations.