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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.
- ◦Financing

