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NKF’s Stolly and Roeschlaub Arrange Debt on Inwood O-Zone
NKF’s Dustin Stolly and Jordan Roeschlaub arranged a $44-million floating-rate loan for Arden Group to acquire 4650 Broadway, a development site in Northern Manhattan’s Inwood neighborhood. Stolly and Roeschlaub’s team included Nick Scribani, Chris Kramer, Seth Hall, and Ryan Flannery. The loan was provided by SCALE Lending, the lending arm of Martin Nussbaum’s and David Schwartz’s Slate Property Group.
4650 Broadway is a 47,350-square-foot site facing Fort Tryon Park located within an Opportunity Zone. The contemplated development will feature more than 300,000 square feet of both market-rate and affordable apartments, above- and below-grade retail and community facility space.
“Arden Group has identified a compelling development opportunity that is within a growing submarket in Manhattan, and has secured the site at an attractive basis,” said Stolly. Roeschlaub cited Inwood’s “ample light and air, access to abundant area amenities and convenient transportation options.”
For comments, questions or concerns, please contact Paul Bubny
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