$45,000,000 development loan for the ground-up construction of a residential condominium in Greenwich Village
Winter & Company has arranged a $45 million construction loan for the ground-up development of an ultra-high-end, ten-unit, nine-story luxury condominium building in a prime location in Greenwich Village in downtown Manhattan. The full-block-wide site provides light and air on three sides. The upper units will have views of the Hudson River. The well-capitalized developer specializes in creating bespoke, boutique condominium buildings in Downtown Manhattan with very high-level design, finishes and aesthetics. The 3-year construction loan had a floating rate over LIBOR, and was structured with limited recourse.