CNY Group secured $49.5 million in construction financing to build the 143 Franklin StreetCommercial Observer investigated 10 ultra-luxury condominiums in Tribeca.
Urban Standard Capital The construction loan closed on New Year’s Day, the company said.
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“With a deep understanding of our development DNA and business plan, In submarkets, we were able to identify real and perceived risks and act quickly towards our goals. said the partner. sam hollander Vice President of Urban Standard Capital.
Developing the project is Brothers Ken Coaro and steve coaro CNY Group, the New York City company that led the construction of the The Woolworth Tower Residences, 64 University Place and 21 East 12 Street In Manhattan.
“It wasn’t just incredible that we were immediately drawn to this opportunity. Not only because of the location, but also because of Ken Colao’s impeccable reputation and history of execution. “World-class development.” robert levinanother vice president of Urban Standard Capital.
Located in the heart of Tribeca between Hudson and Varick streets, 143 Franklin Street will feature 10 six-story, approximately 30,000-square-foot loft-like apartments.
Construction is expected to take two years, Levine said.
Brian Puskas can be contacted at: [email protected]
