RXR, TF Cornerstone Seek Federal Loan To Build $6.5B Supertall

  • 1/15/2025

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Two of the biggest names in New York City’s commercial real estate sector are hoping to hit up the federal government to develop what they expect to be the most expensive tower in U.S. history.

RXR and TF Cornerstone are hoping to land more than $4.8B in federal loans to build 175 Park Ave., their proposed supertall in the heart of Midtown Manhattan, Business Insider reports.

They are seeking to tap two transportation-related federal lending programs through the Biden administration’s 2021 Infrastructure Investment and Jobs Act. But it could be President-elect Donald Trump who ultimately decides whether or not the project lands the funding.

TF Cornerstone (TFC)
Catherine Brady | Real Estate Acquisitions & Finance
RXR Realty
William Elder | Managing Director, New York City Divison
RXR Realty
David Kelly | SVP, Investments

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