Sumaida + Khurana, the firm behind Tadao Ando's 152 Elizabeth, and LENY have closed on a $155 million construction loan for the development of 611 West 56th Street, the highly anticipated luxury condominium designed by Pritzker Prize-winning Portuguese architect Alvaro Siza. 611 West 56th Street will be Siza's first building in the United States will rise 35 stories in height, offering 83 elegantly designed residences, ranging from one-bedrooms to expansive penthouses.

The loan was financed by Madison Realty Capital and an investment fund managed by an affiliate of Apollo Global Management, LLC (“Apollo”), and was arranged by Adi Chugh of Maverick Capital Partners. Attorneys Carl Schwartz and Susan Saslow of Hunton Andrews Kurth represented the joint venture between Sumaida + Khurana and LENY. Madison Realty Capital was represented by Jerry Feuerstein and Avi Schachter of Kriss & Feuerstein. Apollo was represented by David Broderick of DLA Piper.

In addition to the 83 condominium residences, 611 West 56 Street will offer significant amount of outdoor space, including a landscaped roof garden and sun deck and numerous private terraces for the residents. Residents will also have access to a state of the art fitness center, children's playroom and a gracious entertaining space to host private events. Sales are expected to launch Spring 2019, and will be handled exclusively by Leonard Steinberg, Debra LaChance, and Justin D’Adamo of Compass.

Image via Noë & Associates with The Boundary