Manhattan Luxury Condos Land $155M Financing
- Apr 13, 2018
Sumaida + Khurana and LENY have landed $155 million in construction financing for the development of an upcoming luxury condominium in Manhattan. A joint venture between Madison Realty Capital and Apollo Global Management provided the loan. The developers have commissioned award-winning architect Alvaro Siza to design the project, which will be his first building in the U.S.
Upon completion, the project will feature 83 penthouses and one-, two-, three- and four-bedroom units across 35 stories. Amenities will include:
- Landscaped roof garden
- Private terraces
- State-of-the-art fitness center
- Children’s playroom
- Entertaining space for private events
The property will be located at 611 W. 56th St., in the emerging Hudson West neighborhood. Neighborhood amenities include parks, art centers, eateries and retailers. Multiple bus and subway lines provide access throughout the entire area.
Adi Chugh, managing partner of Maverick Capital Partners, brokered the financing. Hunton Andrews Kurth’s Carl Schwartz and Susan Saslow represented the landlords in the transaction.
Image courtesy of Sumaida + Khurana