Manhattan, NY

$15,320,000 First Mortgage

In December 2024, a $15.3 million first mortgage was provided to finance the acquisition of land and predevelopment of a residential project located at 1 Walker Street in Tribeca, New York. The project contemplates the development of an eight-story boutique residential building with five luxury units, designed by renowned architect Kengo Kuma, featuring three-sided frontage along Walker Street, West Broadway, and Sixth Avenue. The business plan includes advancing entitlements and development plans, with additional upside from the potential acquisition of accretive air rights following closing.