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Midwood lands construction financing for 150 East 78th Street

Bank OZK provides a $95 million loan for the condo project

Aerial image of the Upper East Side Development site
(Credit: Google Maps)

John Usdan’s Midwood Investment & Development and Ted Segal’s EJS Real Estate have secured a $95 million construction loan from Bank OZK for their condo project at 150 East 78th Street. Construction for the Upper East Side development should be completed by 2021, according to TRD.

Plans: The 15-story project will span 85,000 square feet, and contain 25 residential condos, plus a ground floor retail component (3,739 square feet). It’s located at the corner of Lexington Avenue.

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