Inside the Hudson Yards Financing Playbook

August 24, 2016 – Media Mention
The Real Deal

Neil Shapiro was quoted in The Real Deal regarding the environment for financing new construction in Manhattan and recent recapitalizations by Related Companies and Oxford Properties Group at Hudson Yards. Related’s recent success leasing up Hudson Yards has reassured skittish lenders. “What’s interesting is they’ve accomplished this in a market that most people would describe as much tighter; capital is much less available,” Shapiro said. “While the market has gotten tighter, the money is only available to the best of the best.” Shapiro also told the publication that Related and Oxford’s recent financing deals may be a sign of market headwinds to come. “My gut is that they’re like everyone else; they have some real concerns and want to make sure they’re well-positioned if the market does have some softening.”