„JLL Capital Markets arranged both the $39-million acquisition of two corner development sites at 1059-1061 Second Ave. and the $38 million in land and pre-development financing for a planned luxury residential development at the southwest corner of East 56th Street and Second Avenue in Midtown East.
JLL represented the developer, a joint venture between EJS Group and Krown Point Capital, in the acquisition of the two contiguous lots and associated air rights. The company also secured pre-development financing through Maxim Capital Group. The JV acquired the two parcels at 1059-1061 Second Ave. along with two air rights packages. JLL advised the partnership throughout the assemblage, acquiring the four buildings at the corner of 56th Street and Second Avenue and immediately selling the underlying buildings at 1055-1057 Second Ave. once the air rights were separated and transferred to the corner site.“