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**Arden Living Secures $161M Refinancing Loan for Inwood Luxury Rental Tower**
Arden Living has secured a $161 million loan from Starwood Property Trust to refinance construction debt for Forty-Six Fifty, a 22-story luxury residential tower located at 4650 Broadway in the Inwood neighborhood of Northern Manhattan.
The newly developed building features 222 upscale rental residences, offering a mix of studio to two-bedroom units designed to meet the growing demand for high-quality living in Upper Manhattan.
“Forty-Six Fifty represents a high-caliber asset delivering Manhattan-quality living that has become a rapidly evolving submarket,” said Craig A. Spencer, chairman and CEO of Arden Group. “This refinancing reflects the strength of the project’s fundamentals, sustained leasing performance, and the long-term value it brings to our portfolio. In partnership with Starwood Property Trust, we are pleased to have secured this refinancing to support the continued success and long-term stability of the property.”
Strategically located in a federally designated Opportunity Zone, the property overlooks the Hudson River and offers proximity to key local attractions such as Fort Tryon Park and The Cloisters, enhancing its appeal to residents seeking access to green space and cultural amenities.
This refinancing deal underscores growing investor confidence in the Northern Manhattan real estate market and highlights the continued evolution of Inwood into a sought-after destination for luxury living.
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