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New York & Tri-State  + Downtown New York  + Finance  |  November 8, 2023
Emily Fu
By: Emily Fu

Urban Standard Capital Provides $14M for Chelsea Condo  

Urban Standard Capital, a New York City-based private equity firm, has provided a $13.8 million acquisition and construction loan for a luxury condo project in Chelsea.  

The developers, RoundSquare Development and VM Properties Group, plan to transform a two-story office/garage building at 227 West 19th Street into a luxury condominium with five full-floor residential units featuring private outdoor space and private elevator landings.  

“This was our first transaction working with the team at Urban Standard and it was a great experience.” “We look forward to continuing our partnership with them,” said RoundSquare Development Principal Rob Kaliner and VM Victor Properties Group Principal Victor Perretta. Urban Standard Capital closed over $100 million of construction loans in October. Michael Horowitz of Cooper Horowitz brokered the deal. 

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Inside The Story

Michael Horowitz

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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