HFF Secures $97.1M Financing for Luxury Condo Development in Manhattan
NEW YORK CITY — HFF has secured $97.1 million in financing for 111 Leroy, a luxury condominium development in Manhattan’s West Village. HFF arranged the two-year, floating-rate financing through Rialto Capital Management on behalf of the borrower, Property Markets Group. Loan proceeds were used to finance unsold condo inventory at the development, which consists of 13 residences and four townhomes totaling approximately 50,000 square feet. HFF previously arranged construction financing for the project, which is now in the final stages of development. The property will include a 24-hour doorman, gym, resident’s lounge and landscaped yard with a fire pit and barbecue area. Christopher Peck and Kristen Knapp of HFF made up the debt placement team.