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NEW YORK CITY-Fremont Investment & Loan has closed $247 million in financing for construction of the William Beaver House. The residential condominium project, being developed by the Sapir Organization and SDS Investments, was designed by hotelier Andre Balazas. PB Capital is a co-lender.
Located at 15 William St. in the Financial District, Richard Smith, vice president and senior loan originator in Fremont's New York office, said the area is becoming more residential. "In the past, there have been many conversions of old office buildings to residential, but this project is one of the few ground-up construction projects in the area," he said in a statement.
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