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BHI Furnishes $80M Construction Loan for Gramercy Park Condo Project
Full-service commercial bank BHI provided an $80-million construction loan to 200 East 20th St LLC. Owned by a Tidhar Group affiliate, the 200 East project is a development of a new condominium building located at 20th Street and Third Avenue in the Gramercy Park neighborhood of Manhattan.
“We have maintained an ongoing banking relationship with the Tidhar Group and are excited to provide the financing for the firm’s prestigious new project in Gramercy, one of the most dynamic areas of Manhattan,” said Ilana Druyan, first VP, real estate international at BHI. “ 200 E. 20th St. complements our strategic focus on residential condominium developments and the financing of significant projects in key locations.”
Designed by CetraRuddy Architecture, and spearheaded by Yoel Shargian, the 84,450-square-foot building will rise 19 stories and consist of 52 residential units, with ground-floor retail spanning 2,730 square feet. Completion is anticipated for 2024.
- ◦Development
- ◦Financing

