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08

Toll Brothers Finds Chinese Partner for Latest NYC Condo Project

By Tony Seruga

Toll Brothers Inc., the biggest U.S. luxury-home builder, is bringing in a Chinese partner for its latest Manhattan condo development.

Toll is forming a joint venture with an affiliate of Gemdale Corp., one of China’s largest residential developers, to build 133 luxury condominiums across two towers at 121 E. 22nd St., the companies said in a statement Thursday. The project, one block north of Gramercy Park, has obtained a $237 million construction loan from a syndicate of five banks including Bank of New York Mellon, Capital One and China Merchants Bank New York…

Toll Brothers Finds Chinese Partner for Latest NYC Condo Project

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