Downtown New York, NY

$15,800,000 First Mortgage

In November 2015, a $15.8 million first-mortgage loan was provided to finance the acquisition of an approximately 19,000 square foot office building located on Broad Street in Downtown Manhattan, New York. The loan was originated in partnership with a co-lender and enabled the borrower to acquire the property for conversion into a 146-key hotel, supporting execution of its redevelopment business plan.