$38,373,183 construction loan for the development of an ultra-high-end boutique luxury condominium project in TriBeCa
Winter & Company arranged this $38,373,183 construction loan for the development of an ultra-high-end luxury boutique condominium project located inTriBeCa, in downtown Manhattan. The three-year construction loan was priced over LIBOR and was structured with limited recourse. Much of the existing building (originally a garage) was demolished and the resulting structure redeveloped as a nine-story building with seven large, luxurious units with copious terraces and outdoor space ranging in size from 3,393 to 7,098 square feet, along with in-building automated parking for approximately 140 cars.
Winter & Company had also arranged the sale of this property from a previous developer to the current developer.