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New York

Procida to advise on Tribeca condo loan

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Real estate and investment advisory firm William Procida, Inc. has been named the advisor on a $28.25 million mortgage loan for an unnamed lender at Five Franklin Place, a 55-unit condominium at 369-371 Broadway in Tribeca developed by Sleepy Hudson LLC. The firm’s head, Billy Procida, said that his company often becomes involved in “complicated transactions” such as this, providing value analysis and asset management on loans. “I’m a bankruptcy specialist, I’m a contractor… my specialty is basically getting money back for people,” Procida said. TRD