NEW YORK, NY – 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 leading Commercial Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners, operators and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million. With 25 years of industry leading experience, Progress Capital has an unrivaled network of lending partners and capital market relationships allowing us to provide you with flexible custom financing solutions.