$52M Construction Loan for Tribeca Condos

Cape Advisors have borrowed $52 million to finance the construction of a new condominium development in Manhattan’s Tribeca neighborhood.

“The 23 luxury condos will feature 10 to 12-foot ceiling heights, oversized windows, and high-end finishes,” said Adam Hakim, managing director for Eastern Consolidated, which arranged the construction loan with a bank lender.

The new building at 65 West Broadway will also include 15,000 square feet of ground floor retail space and will fill an entire block between Warren and Murray Streets. Existing buildings at 65-69 West Broadway, 71-73 West Broadway, 61 Warren, and 59 Warren Street that will be demolished to make way for the new condominium.

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