Cole Schotz Advises Senior Lender in Tribeca Condo Project
Cole Schotz P.C. is pleased to announce it advised G4 Capital Partners on a $94 million loan to HAP Investments for construction of a 41-unit condominium in Tribeca. The complex will be located at 65 Franklin St., which is currently home to a five-story building set for demolition. The loan closed on May 22, 2019.
In addition to residences, the new 19-story building will include a highly visible retail component along Broadway. HAP Investments also secured a $13.5 million mezzanine loan from Quinlan Development Group. The project is expected to be complete in the next three years.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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