Yellowstone Real Estate Investments Secures $203 Million Construction Loan For 220 West 42nd Street

The asset involved is an office-to-residential conversion and retail property located at 220 West 42nd Street in Manhattan. The construction loan secured for this conversion amounts to $203,000,000.

Summary of transaction details:

• Property Type: Office-to-Residential Conversion & Retail
• Transaction Amount: $203,000,000
• Lenders: Naftali Credit Partners – Miki Naftali & Glenn Grimaldi and BHI – Ilana Druyan
• Sponsor: Yellowstone Real Estate Investments - Isaac Hera & Joe Einav
• Advisors: Max Herzog, Marko Kazanjian, Andrew Cohen & Max Hulsh - Institutional Property Advisors (IPA)
• Loan Type: Construction

The transaction encompasses key players such as Miki Naftali and Glenn Grimaldi representing Naftali Credit Partners, while Ilana Druyan represents BHI. The sponsors, Isaac Hera and Joe Einav of Yellowstone Real Estate Investments, are critical to this conversion project, alongside advisors from Institutional Property Advisors, including Max Herzog, Marko Kazanjian, Andrew Cohen, and Max Hulsh.