BHI Furnishes $60M for Bulk Condo Deal in Hell’s Kitchen
BHI, a full-service commercial bank, provided $60 million in financing for the bulk acquisition of 70 residential condominium units in the Charlie West building at 505 W. 43rd St. in Midtown’s Hell’s Kitchen neighborhood. The borrower is a joint venture of Tishman Realty & Construction and PIMCO, which is acquiring the units, totaling 76,897 square feet, from Charlie West developer the Elad Group.
Completed in 2019, Charlie West rises 16 stories and has 123 units. BHI had provided construction financing for the project.
“We are pleased to welcome Tishman Realty as a new client and look forward to a productive collaboration,” said Ilana Druyan, BHI first VP and head of international originations real estate. “Charlie West is an extremely desirable building at affordable luxury price points, with a Midtown West location that continues to be one of the city’s fastest-growing areas.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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