$66MM Multifamily Property Development|New York, NY

Structured and arranged a construction loan to develop an 87,000-square-foot, 69-unit multifamily rental property with office space on the first two levels that will serve as the new U.S. Embassy for The Republic of Senegal.

Challenges

Sponsorship, which included a subsidiary of a sovereign entity, required a non-recourse construction loan. Furthermore, a factually challenged appraisal unbalanced the borrower’s land equity contribution.

Aruyel Nurbekova

JUNIOR ANALYST

Email

anurbekova@eyzenberg.com

D: (305) 995-0777

Alexei Muniak

ORIGINATOR

Email

amuniak@eyzenberg.com

D: (305) 995-0777 ext. 309
C: (917) 536-1057