NEW YORK CITY—A $115 million loan to finance an 11-story luxury residential condominium at 527 W. 27th Street—next to the High Line–has been placed. Eastern Consolidated's Adam Hakim and Sam Zabala, managing directors in the capital advisory division, placed the funding. Financial associate James Murad assisted on the deal.
Centaur Properties and Greyscale Development Group are building the 135,000-square-foot Jardim condominium on a block-through site between 27th and 28th Streets. The complex will include 36 apartments ranging from one to four bedrooms, 12,000 square feet of retail, and 39 parking spaces.
“World-renowned Brazilian architect Isay Weinfeld is designing this one-of-a-kind building that will feature an inner courtyard and garden,” Hakim says. “The condominium is located in the High Line district of West Chelsea, which is currently one of the hottest neighborhoods in New York City.”
Hakim and Zabala earlier this month joined managing director Jonathan Aghravi, who launched Eastern's capital advisory division last year. They service Eastern's existing clients, while continuing to develop new business.
Hakim and Zabala brought their book of business to Eastern and have a diverse track record of executing highly structured mezzanine and senior portfolio debt transactions with various developers/owners. They have overseen a combined $8 billion in transactions.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
