DHA Capital, First Atlantic Real Estate, and AMS Acquisitions have secured a $72 million floating-rate loan from Deutsche Bank to refinance their condo development at 75 Kenmare Street, according to the CMA. The Nolita project (AKA 196 Mulberry Street) consists of 38 residential units (42,533 square feet), plus a ground-floor retail component (8,079 square feet).
Worth Noting: Deutsche Bank provided $101 million in acquisition and construction financing for the development. Sales launched in 2017 with a projected sellout of around $140 million… DHA’s Dan Hollander told CO that half the units remain unsold.
Flashback: DHA Capital paid $55 million for the site in 2015.