Locally based real estate private equity firm Northwind Group closed on a $45-million condo inventory loan for a 120-unit condominium building located on the Upper West Side of Manhattan at 175 W. 95th St. The borrower is a joint venture between Meadow Partners and Glacier Equities.
Northwind closed on the loan quickly and efficiently, providing flexible terms, which enabled the time and resilience needed to execute their business plan, the company said. The firm said it remains committed to lending in New York City despite a volatile capital markets environment.
“Northwind was able to structure a flexible loan at an attractive basis with additional future funding of project costs,” said Myles Horn, managing partner of Glacier Equities. “We look forward to continuing to unlock the value of this asset and to a successful execution of the business plan.”
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).