S3 Capital Group Provides $46M Loan For Condo On Lexington Ave, New York

Located at 165 Lexington Ave in New York, NY, the 11-story condominium tower to be developed in Kips Bay will consist of 43 residential units, along with two commercial spaces totaling 2,860 square feet. The $46 million construction loan was secured by Michael Muller and Moshe Lipschitz of Eastern Union on behalf of the borrower, Lexington Partners LLC, a joint venture between Brooklyn North Capital and RiverBrook Equities. S3 Capital Group provided the financing for the project, which is being designed by Issac & Stern Architects and is set to be completed in March 2020.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $46,000,000.00
• Address: 165 Lexington Ave, New York, NY, 100...
• Market: New York
• Borrower's Rep: Michael Muller(), Moshe Lipschitz(Eastern Union)
• Lender: S3 Capital Group

The financing for the development of the condominium tower was arranged by Eastern Union, with Michael Muller and Moshe Lipschitz representing the borrower, Lexington Partners LLC. S3 Capital Group provided the loan for the project, which is expected to be completed by March 2020 and will be designed by Issac & Stern Architects.