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Madison Realty Capital Provides $155M Construction Loan for High-Rise Manhattan Condominium

A rendering of the future condominium building at 611 West 56th St. in Manhattan

NEW YORK CITY — Madison Realty Capital and an investment fund managed by an affiliate of Apollo Global Management LLC have provided a $155 million loan to Sumaida + Khurana and LENY Equities for the construction of a 35-story condominium in the Hudson West neighborhood of Manhattan. Located at 611 West 56th St., the building will feature 83 units as well as a landscaped roof garden and sundeck. The building, which was designed by Pritzker Prize-winning Portuguese architect Alvaro Siza, is being co-developed by Sumaida + Khurana and LENY Equities. Carl Schwartz and Susan Saslow of Hunton Andrews Kurth LLP provided legal representation for the joint venture. Adi Chugh of Maverick Capital Partners arranged the financing.

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