The Jay Group has secured $92 million in construction financing for its upcoming multifamily development in Inwood, northern Manhattan.
BHI provided the loan for the 18-story residential tower, which will replace a former gas station at 401 West 207th Street. The project will feature 270 apartment units spanning 302,000 square feet, with 25% designated as affordable housing under New York City’s Mandatory Inclusionary Housing program.
Morris Betesh, Omar Ferreira and Dov Jeremias of Meridian Capital Group negotiated the financing.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.