Richman Group Secures $137 Million Construction Loan From NYC Housing Development Corporation For Development Site

The development site located at 145 Broome Street, in the Lower East Side of Manhattan, encompasses a total buildable square footage of 161,305. A construction loan amounting to $137,000,000 has been secured for a 191-unit project on this site.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $137,000,000
• Asset Address: 145 Broome Street
• Market: Lower East Side, Manhattan
• Lender: Eric Enderlin - NYC Housing Development Corporation
• Landlord: Richard Paul Richman - Richman Group, Grand Street Guild, Roman Catholic Church, & Archdiocese of New York
• Loan Type: Construction

Eric Enderlin represents the NYC Housing Development Corporation as the lender in this transaction. Richard Paul Richman, associated with the Richman Group, also represents the Grand Street Guild, the Roman Catholic Church, and the Archdiocese of New York as the landlord. This collaboration has facilitated the funding for the construction project at the specified address.