Adellco Secures $95M Construction Loan For Luxury Condo Conversion On Madison Ave | 1295 Madison Avenue | G4 Capital Partners | David Strongwater, Tal Bar-or | Mixed-use | Loan

Summary

Loan

NEW YORK

Mixed-use

6,266 sqft

The property at 1295 Madison Ave. in Manhattan has been involved in a recent closed transaction. This mixed-use property consists of 23 units and is located in a prime market area.

Summary of transaction details

Property Type: Mixed-use
Transaction Amount: $95,000,000
Address: 1295 Madison Ave.
Market: Manhattan
Units: 23

G4 Capital Partners, represented by Jason Behfarin, Robyn Sorid, Robert Palumbo, and Chris Goetz, provided the construction loan for the conversion of the Wales Hotel into luxury condominiums with commercial space available on the ground floor. Adellco, led by Matthew Adell, acted as the landlord in this transaction. The brokerage services were provided by Tal Bar-Or and David Strongwater from Lantern Real Estate Advisors.

Players

All
4

Agents
2
Agencies
1
Lenders
1

Details

Deal Summary

FINANCED

IMAGE: Robert Palumbo, Chris Goetz, Robyn Sorid, Matthew Adell, Jason Behfarin, Tal Bar-Or & David Strongwater DATE: 06/16/2022 ADDRESS: 1295 Madison Ave. MARKET: Manhattan ASSET TYPE: Mixed-use ~ UNITS: 23 LENDER: G4 Capital Partners - Jason Behfarin (@JasonBehfarin), Robyn Sorid, Robert Palumbo (@RobbyP5) & Chris Goetz LANDLORD: Adellco - Matthew Adell BROKERS: Tal Bar-Or & David Strongwater (@DavidStrongwater) - Lantern Real Estate Advisors LOAN AMOUNT: $95,000,000 LOAN TYPE: Construction LOAN TERMS: Construction Facility for the conversion of the Wales Hotel into luxury condominiums with commercial space at grade

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Address1295 Madison Avenue

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