Sheppard Mullin Represents M&T Bank in Issuing a Loan for Premier Luxury Apartment Building at Garvies Point
The firm represented M&T Bank in a $34 million construction loan to a subsidiary of RXR Realty, one of the most notable and active developers in the New York metropolitan area. The loan will finance the development of The Arden, a premier luxury apartment building located at Garvies Point in Glen Cove, New York.
The Arden will be a five-story residential building featuring approximately 101 luxury apartment units, totaling 100,000 net square feet, with additional ground-floor retail space.
As part of Garvies Point – a transformative waterfront redevelopment project – The Arden will serve as a cornerstone for the revitalized community, offering upscale living with convenient access to parks, shopping and the waterfront.
Sheppard Mullin is proud to support M&T Bank in this significant transaction and to contribute to both the continued growth and revitalization of Glen Cove and the continued success of M&T’s business relationship with RXR.
The Sheppard Mullin team was led by New York Real Estate partners Neil Cohen and Richard Fries.