The Naftali Group has secured $176 million in construction financing from HSBC for its condo project at 200 East 83rd Street (AKA 1461-1469 Third Avenue). Upon completion, the development will span over 250,000 SF.
- Financing details: The package consists of a $117 million building loan, a $59 million project loan, and a $90 million refinanced loan.
- Flashback: Naftali Group acquired the asset from the Muss and Aryeh families for $167 million a few months back.
- Different deal nearby: The developer recently secured $120.4 million in construction financing from Bank Hapoalim at 1039-1045 Madison Avenue