Milbank, Paul Weiss Steer $70M Manhattan Real Estate Loan

Law360 (August 27, 2021, 5:02 PM EDT) — Milbank LLP represented Ares Commercial Real Estate Management in connection with its roughly $69.8 million loan to a Paul Weiss Rifkind Wharton & Garrison LLP-counseled Magnum Real Estate entity for a mixed-use building in Manhattan, according to records made public in New York on Friday.

The loan from Ares Commercial Real Estate Management LLC is for two commercial condo units and dozens of single-residential condo units at 140 West St., and the borrower is an entity affiliated with Magnum Real Estate Group LLC.

The 32-story property, also known as the Verizon building, is located just north of One World Trade Center,…

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