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Firm Provides $25M Apt Conversion Financing

NEW YORK CITY-Wrightwood Capital provides $25.3 million to finance the conversion of a vacant 14-story loft office building to apartments at 315 W. 35th St.

By Natalie Dolce | Updated on August 03, 2007

(Read more on the debt and equity markets and the multifamily market .)

NEW YORK CITY-Wrightwood Capital has provided $25.3 million to finance the conversion of a building to apartments in New York City. The building, located at 315 W. 35th St., is in the Garment District of Manhattan.

Built in 1927, the property is currently a vacant 14-story loft office building. The sponsor, Ari Chitrik, a Manhattan developer that specializes in the construction of multifamily buildings in New York, plans to convert the property to a 57-unit apartment building, with approximately 5,000 sf of retail space on the ground floor.

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