176 E. 82nd St.
NEW YORK CITY—Shaky Cohen's Nexus Development Building Group is taking out a $26.35 million loan to build a luxury condominium at 176 E. 82nd St. The property is located between Lexington and Third avenues. The Upper East Side Manhattan multifamily property will include nine luxury residential units and one commercial space on the ground floor. Trevian Capital was the lender.
176 E. 82nd St./ Architectural rendering of planned luxury residential building
Brad Domenico, partner at Progress Capital, secured the loan working with Michael Hoffenberg and Charlie Zabriskie of Trevian Capital. The non-recourse, interest-only loan will be used to fund hard and soft costs to complete construction.
“Even though construction capital in the luxury condominium space has become more challenging, we were able to deliver a customized financing package to meet all of the client's goals,” says Domenico.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
