Chetrit Group Secures $235M Construction Loan For Upper East Side Development Site

Chetrit Group has secured a $235 million construction loan for its residential development site in the Upper East Side. The site, located at 252-254, 257, 259 & 260 East 72nd Street, was formerly occupied by the St. John the Martyr church. The loan, provided by G4 Capital Partners and represented by lender Robyn Sorid, will support the construction of the new residential project.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $235,000,000
• Lender: Robyn Sorid - G4 Capital Partners
• Landlord: Joseph Chetrit - Chetrit Group
• Broker: Henry Bodek - Galaxy Capital

This construction loan confirms Chetrit Group's commitment to developing the Upper East Side residential project. The involvement of lender Robyn Sorid from G4 Capital Partners highlights the support provided by the financial institution in funding the development. Furthermore, broker Henry Bodek, representing Galaxy Capital, played a key role in facilitating the deal between Chetrit Group and G4 Capital Partners.