108
NEW YORK CITY — Atlas Hospitality, in partnership with Fortuna Realty Group, has received a $40 million construction loan from Bank of America Merrill Lynch for the development of a 128-room boutique hotel in the financial district of Manhattan. Located at 120-122 Water St., the 26-story building will include a high-end restaurant on the ground floor and a double-deck rooftop with views of Manhattan. Fortuna Realty Group will manage the property upon its completion in 2020. Terms of the financing were not disclosed.