T
he Moinian Group has secured a major financing boost for its long-stalled Financial District project. MSD Partners provided a $111 million construction loan for the 250-unit development at 3 Platt Street, which is set to be completed in the first quarter of 2026. This new funding comes on top of a $58 million land loan from MSD in 2022.

    The project has been in the works since 2018, when Moinian filed plans for a 37-story, 200,000-square-foot building with Rockwell Group and Hill West Architects as designers. Amenities will include an outdoor pool, virtual reality room, and fitness club with a rock-climbing wall.

    The development is situated next to the Renaissance at 100 John Street, another Moinian luxury multifamily property, and a 172-key hotel being developed by the company. The project is being built under the old 421a program, according to principal Matthew Moinian.

    This financing news comes on the heels of Governor Kathy Hochul's announcement that Moinian will partner with BXP, BRP Companies, and the Urbane Group to develop a $1.4 billion two-tower project in Hudson Yards.