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Tribeca Project Lands $16M Inventory Loan
developer of the high-end luxury condominium project 100 Franklin St. in Tribeca’s East Historic District.
USC’s loan refinanced Bank OZK’s construction loan and will give DDG Partners additional runway to sell the units and maximize pricing. Condo inventory financing is the fastest growing part of Urban Standard Capital’s lending business, which is expanding nationally.
100 Franklin St. is a 22,236-square-foot.building that features 10 residential units and 2 commercial units. The building is located on the corner of Church and Franklin streets in close proximity to many art galleries and some of NYC’s best restaurants. It is being marketed by Douglas Elliman’s Development Marketing.
“DDG delivered a very special and unique property to the market,” said Robert Levine of USC. “100 Franklin exemplifies DDG’s thoughtful approach to design and development.”
- ◦Financing
