SL Green has had a giant project in the works for 185 Broadway in lower Manhattan since 2015. On Friday, the developer finally announced plans to go vertical on construction of the 35-story, 260,000 square foot development in the first quarter of 2019.Read More
Marriott International has announced that the Rafael Viñoly-Designed Ritz-Carlton will break ground at 1185 Broadway in NoMaD. Permits were filed in 2016 with a proposed total development of 164,400 SF.Read More
Nationally acclaimed real estate development firm Extell Development Company has announced that they have closed on $530 million in financing for Brooklyn Point, the firm’s first development in Brooklyn and currently the tallest residential tower under construction in the borough.Read More
Landsea Homes , an international homebuilding and development company with operations in the United States, Europe and Asia, in partnership with Leyton Properties, a development company specializing in commercial real estate, has announced the closing of a $40 million senior construction loan for their Upper West Side condominium development at 212 West 93rd Street.Read More
Adam America Real Estate and co-developer Slate Property Group are preparing to launch sales at The Brooklyn Grove, located 10 Nevins Street in Downtown Brooklyn. Sales will be overseen by the Aguayo Team with Halstead Property Development Marketing.Read More
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.Read More
[PROFILEmiami] - Compass is certainly on a roll after locking in $100 million of additional financing via their new funding round, bringing their valuation to $1.8 billion having raised $325 million from investors to date (November 8, 2017). The latest round of funding was provided by Fidelity Investments, IVP and Welling Management.Read More
A joint venture between real estate investment firms Strategic Capital, Forum Absolute Capital Partners and Cape Advisors closed today on a $215 million construction loan for their recently announced West Soho development project at 537 Greenwich Street (October 4, 2017).Read More
211 Schermerhorn, a new ground-up luxury boutique condo building in Brooklyn’s historic Boerum Hill neighborhood, has secured a $47.9 million construction loan. 211 Schermerhorn is being developed by Oestreicher Properties, a fully integrated real estate, development and construction company, and GPB Capital Holdings, LLC, an asset management firm. The loan was funded by CapitalSource, a national middle market lender and a division of Pacific Western Bank, and JLL’s Aaron Niedermayer, Aaron Appel and Brandon Krupetsky coordinated financing.
“We are extremely pleased to have closed on this transaction and have construction for 211 Schermerhorn underway,” says Debbie Tsabari, President of Oestreicher Properties. “The financing package affirms the long-term value of this coveted neighborhood and we look forward to a successful launch of sales and marketing this fall.”
The mixed-use 14-story residential development will feature 48 condominiums and was designed by acclaimed architect Morris Adjmi. Units range from 1 to 3-bedroom homes with custom interiors by Adjmi and top-of-the-line appliances. The building additionally includes 10,000 SF of ground floor retail space. Amenities include a 1,138 SF communal rooftop terrace offering panoramic views of Manhattan and the New York Harbor, a lounge and media room, fitness center, children’s playroom, bike storage and private storage units available for purchase.
After a nearly 18 month search, Extell Development, led by visionary Gary Barnett, are closing in on securing a $900 million construction loan for Central Park Tower led by JPMorgan Chase. The loan, if finalized, would be one of the largest during the current development cycle. Central Park Tower is located on Billionaires' Row on Central Park South. The project is the first of its kind with a $4.02 billion sell-out for the ultra-luxury condo tower. Central Park Tower will be designed by Adrian Smith + Gordon Gill Architecture, rising 1,550 feet and will feature 179 luxury condo units.