New York, NY
Mixed Use - Development
ACRES Capital (“ACRES”) is pleased to announce the funding of a loan which will be used to finance the construction of a mixed-use condominium project in Manhattan. The property will be improved with an 8-story building containing eleven residential units and approximately 4,811 square feet of ground floor retail. The property will be comprised of approximately twenty thousand square feet consisting of ten-two bedroom/two-bathroom units, one-three-bedroom/three and-a-half bathroom unit and one retail unit. Amenities will include a virtual doorman, water and air filtration systems, terraces and/or balconies.
Mark Fogel, President & CEO of ACRES commented, “This project is extremely well located in NoMad, an up and coming neighborhood of Manhattan. Its proximity to public transportation, local employment centers, and high-end amenities offers a unique opportunity to own a luxury unit at a very attractive price point. ACRES is excited to work this experienced Sponsor and his development team.”