Dov Schlein Secures $68 Million Loan From Bank Hapoalim For NoMad Office Conversion

Dov Schlein's property located at 89 Madison Avenue is situated in the NoMad district and is currently utilized as office space. The property is undergoing a significant transition as it seeks a potential conversion from office use to residential. The financing secured for this purpose amounts to $68 million from Bank Hapoalim.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $68,000,000
• Address: 89 Madison Avenue
• Market: NoMad
• Lender: Bank Hapoalim
• Landlord: Dov Schlein

This transaction involves key individuals including Dov Schlein, acting as the landlord, and Bank Hapoalim as the lender. The secured loan is intended to support the property's transition, reflecting the strategic move towards accommodating residential needs in Manhattan's evolving real estate market.