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HAP Investments lands financing to build 4452 Broadway

Madison Realty Capital provided $52.5 million in construction debt

Rendering of 4452 Broadway (Credit: HAP Investments)

HAP Investments has secured $52.5 million in construction financing from Madison Realty Capital for its mixed-use development project at 4452 Broadway. Upon completion, the Washington Heights project will span 134,475 square feet, and contain 129 apartments (39 affordable), plus a retail component (11,000 SF).

Worth Noting: Eran Polack’s HAP paid $7.3 million for the site in 2013. The new loan will replace existing debt and cover construction costs. Gamma Real Estate provided the developer with $11.5 million in financing in 2017, according to TRD.

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