10
NEW YORK CITY — Wells Fargo has provided $231 million in tax-exempt bond financing for Hawthorn Park, a 54-story residential tower located at 160 W. 62nd St. on Manhattan’s Upper West Side. The building features 339 units, 271 of which are rented at market rates and 68 of which have been set aside as affordable for households earning 50 percent or less of the area median income.
According to Apartments.com, Hawthorn Park was built in 2014. The property offers studio apartments with an average size of 500 square feet. Amenities include a fitness center, lap pool and whirlpool, children’s playroom and a lounge with a furnished and landscaped roof deck.
The undisclosed borrower will use a portion of the bond proceeds to refinance existing debt.