New York State Teachers’ Retirement System, Albany, and New York Life Investment Management have co-invested in a $58 million leasehold mortgage on property just blocks from the ruins of the World Trade Center, said Dave Daly, NYSTRS spokesman. The $80 billion system and New York Life each contributed $29 million to fund the loan on a 27-story, 324-unit apartment building in Battery Park City that was completed in March.
"This property, located in the heart of New York City’s financial district, symbolizes our confidence in the underlying strength of the New York City and U.S. economies,” said George Philip, NYSTRS executive director.
