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Boutique Condos in West Village Land $97M Loan
HFF has secured $97.1 million in financing for 111 Leroy, a boutique luxury condominium development in the West Village. Loan proceeds were used to finance unsold condo inventory at the 10-story mid-rise project.
An HFF team of Christopher Peck and Kristen Knapp worked on behalf of Property Markets Group (PMG) to arrange the two-year, floating-rate financing through Rialto Capital Management. HFF previously secured construction financing for the project, which is now in the final stages of development.
Founded in 1991 by Kevin Maloney, PMG describes the West Village’s Leroy Street as “the new center of it all.” When completed, 111 Leroy will feature 13 condo units and five townhouses.
PMG has an extensive slate of multifamily developments underway across Manhattan, as well as in Chicago and South Florida.
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