Reading International has announced he closing of construction finance facilities totaling US $57.5 million to fund the non-equity portion of the anticipated construction costs of its redevelopment of 44 Union Square in New York City. It’s the historic building at the corner of 17th and Union Square East that is historically known as Tammany Hall.
The redevelopment of 44 Union Square will add approximately 23,000 square footage of rentable space to the current square footage of the building for an approximate total of 73,322 square feet of rentable space, inclusive of anticipated BOMA adjustments and subject to lease negotiations and the final tenant mix.