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New York & Tri-State  + Fairfield/Westchester  + Finance  | 
The Daymark luxury condominium development will be part of the larger Edge-on-Hudson project in Sleepy Hollow, NY

Luxury Condo Build in Sleepy Hollow Secures $142M Financing

Centennial Bank and Lionheart Strategic Management LLC have provided a total of $142.2 million in construction financing to Biddle Real Estate Ventures and PCD Development., the team behind Edge-on-Hudson in Sleepy Hollow, NY. Centennial provided a $105-million senior loan while Lionheart provided a $37.2-million mezzanine loan to finance the development of the Daymark, a 100-unit luxury waterfront condominium building. 

“The sponsors have assembled a top-tier construction, design and development team that will deliver a highly amenitized and unique residential product in an unparalleled location as part of the larger Edge-on-Hudson master development,” said Andy Klein, managing director of Lionheart. “This project will meet continued and growing demand for quality new residential products in Westchester County.” 

Klein, Robert Kamenec, and Benjamin Eshiwani led the transaction for Lionheart. Hines, the development manager, will work alongside the project team to develop the five-story project with more than 9,000 square feet of retail at its base. 

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About Paul Bubny

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).

  • ◦Financing
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