Argo Real Estate And B Safal Secure $84M Construction Financing For Greenwich Village Condominium Project

Argo Real Estate and developer B Safal have secured $84 million in construction financing from Deutsche Bank and Naftali Credit Partners for their condominium project in Greenwich Village. The development site, located at 64 University Pl, New York, NY 10003, USA, will benefit from the substantial loan amount to fund the construction process.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $84,000,000.00
• Lender: Deutsche Bank and Naftali Credit Partners
• Borrowers: Argo Real Estate and developer B Safal
• Address: 64 University Pl, New York, NY 10003, USA
• Date: 2023-06-01

The loan, provided by Deutsche Bank and Naftali Credit Partners, will enable Argo Real Estate and developer B Safal to proceed with their condominium project at 64 University Pl, New York, NY 10003, USA. This financing arrangement signifies the confidence of the lenders in the project's potential and the developers' ability to deliver a successful development in the desirable area of Greenwich Village. The loan terms and conditions were not disclosed in the available information.