Natixis Provides $30 Million of Floating-Rate Construction Financing on a Mixed-Use Luxury Condominium Development
Natixis Real Estate Capital LLC originated a $30 million construction loan on 809 Broadway to a private Manhattan-based development company.
The existing property is currently a 5-story commercial loft building located in Greenwich Village. Upon completion of the project, the property will be transformed into a boutique luxury condominium building with ground floor retail. Amenities at the property will include high ceiling heights ranging from approximately 10’ to 15’, outdoor space for select units, attended lobby, direct elevator entrance to each unit, storage room, bike room, and a gym with a sauna. A portion of the loan proceeds were used to retire the predevelopment loan that was provided by Natixis.
The financing was arranged by Christopher Herron from the New York office of Iron Hound Management Company, LLC.