Halpern Real Estate Ventures + Bizzi & Partners Development have secured a $166 million condo inventory loan from Bank of China for 565 Broome Street. The recently completed mixed-use property in SoHo spans 330,000 SF.
- Worth Noting: The $750 million project comprises 115 residential condo units spread across two parallel 25-story towers. It also features 26,000 SF of retail space.
- Dig Deeper: Cindat had originally supplied a $135 million loan to the developers to fund a transition from its acquisition to construction, but the loan was subsequently converted into an equity stake following the closing of $320 million in construction financing from Bank of China in 2016.