Alchemy-ABR And Carlyle Group Secure $79 Million Construction Loan For Multifamily At 288 East 88th Street

The property located at 288 East 88th Street in the Yorkville market is a multifamily asset, featuring a total square footage of 110,760 and comprising 45 residential units. The transaction involved a substantial loan amount of $79,000,000 designated for construction purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $79,000,000
• Address: 288 East 88th Street
• Market: Yorkville
• Asset Size: 110,760 SF
• Units: 45
• Lender: Bank OZK & Affinius Capital
• Landlord: Alchemy-ABR represented by Brian Ray, Joel Breitkopf & Kenneth Horn; Carlyle Group represented by Jason Hart
• Brokers: Walker & Dunlop represented by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Bastian & Mo Beler

This transaction was facilitated with key representation from Alchemy-ABR and Carlyle Group for the landlord's interests. The brokers from Walker & Dunlop played a pivotal role in the negotiation and execution of the loan agreement, ensuring the smooth handling of this construction loan arrangement.