Xin Development Group Secures $32.5M Bridge Loan From Avant Capital For Hell’s Kitchen Property

The asset involved in the transaction is a retail and condo property located at 615 10th Avenue in the Hell’s Kitchen market. The property, known as Bloom on Forty-Fifth, is being refinanced through a bridge loan valued at $32,500,000.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $32,500,000
• Lender: Adam Luysterborghs & Bernard Wolff - Avant Capital
• Landlord: Sheng Zang - Xin Development Group International
• Broker: Steven Weiss - EXP Realty
• Loan Type: Bridge

This transaction marks Xin Development Group's effort to secure financing as it exits bankruptcy, supported by Avant Capital's provision of the bridge loan. The collaboration includes notable participants such as Adam Luysterborghs and Bernard Wolff from Avant Capital, who facilitated the lending process.