$26,350,000 Secured for Newly Constructed Condo Development in NYC
On behalf of Shaky Cohen and Nexus Building Group, Brad Domenico of Progress Capital secured $26,350,000 to finance the construction of a condominium building at 176 East 82nd Street. The subject property is located on the Upper East Side of Manhattan and will accommodate 9 residential units and one ground level commercial unit.
Domenico negotiated and secured the permanent mortgage with Michael Hoffenberg and Charlie Zabriskie of Trevian Capital. This is a 12 month I/O non-recourse loan that will be used to fund hard and soft costs required to construct the condo development.
Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress