KABR Group And BTF Capital Fund Secure $33.3M Bridge Loan For Retail Property In Manhattan

The property asset involved in the transaction is a retail property known as New City Center, located at 2‑88 North Main Street in Manhattan. The property spans 128,801 square feet and is part of a joint venture between KABR Group and BTF Capital Fund. A bridge loan amounting to $33,300,000 was secured to cover 75% of the project costs through Voya Investment Management.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $33,300,000
• Address: 2‑88 North Main Street
• Market: Manhattan
• Lender: Voya Investment Management
• Landlord: KABR Group, BTF Capital Fund
• Brokers: Dev Morris, Allison Villamagna, Brandon Szwalbenest & Andrew Stewart - Cronheim Mortgage
• Loan Type: Bridge

The deal was arranged by Cronheim Mortgage, highlighting the collaborative effort of the brokers involved in securing the financing. This transaction showcases the involvement of Dev Morris, Allison Villamagna, Brandon Szwalbenest, and Andrew Stewart, who represent diverse expertise in handling commercial real estate financing.