Iron Hound secures $81M in debt for Harlem and UES projects

One loan will go toward construction of mixed-use development on West 125th Street

TRD New York /
May.May 30, 2014 01:10 PM

Iron Hound Management Company closed a pair of loans for a new Harlem development and an Upper East Side hotel.

The real estate advisory firm secured a $36 million construction loan for Bobby Cayre’s Aurora Capital Associates and the Adjmi family. The debt will help finance a full-block development at 5-15 West 125th Street between Fifth and Lenox avenues, the Commercial Observer reports. The development will contain 100,000 square feet of retail space and several apartments.

Iron Hound also arranged a $45 million refinancing of a loan for renovations to Denihan Hospitality Group’s Surrey Hotel at 20 East 76th Street. The previous loan, refinanced at maturity, covered extensive renovations to the Surrey’s exterior and interior.

“These two transactions represent Iron Hound’s ability to be creative and secure financing on difficult transactions for our clients,” Iron Hound principal Robert Verrone told the Observer. [NYO]Tom DiChristopher


Related Articles

arrow_forward_ios
Your friendly neighborhood retail store couldn’t be happier to welcome you back (iStock)

Small Talk: Welcome back shoppers! Everything is going to be fine!

Small Talk: Welcome back shoppers! Everything is going to be fine!
Caliber CEO Sanjiv Das (iStock)

Lone Star affiliate reaches $17M settlement with NY homeowners

Lone Star affiliate reaches $17M settlement with NY homeowners
Clockwise from top left: 42-10 27th St, Long Island City; Flatbush Gardens, Brooklyn; and 148-10 and 148-18 Guy R Brewer Boulevard, Queens (Google Maps)

May’s biggest outer-borough loans led by $329M Brooklyn package

May’s biggest outer-borough loans led by $329M Brooklyn package
St. John’s Terminal, 498 Seventh Avenue and 666 West End Avenue (COOKFOX Architects, Google Maps)

Huge loan for Google campus was Manhattan’s largest in May

Huge loan for Google campus was Manhattan’s largest in May
Clockwise from left: 301 First Avenue New York, the Barclay hotel at 111 East 48th Street and 30 Park Avenue (Credit: Google Maps)

These were Manhattan’s largest real estate loans in April

These were Manhattan’s largest real estate loans in April
The Coca-Cola building at 711 Fifth Avenue with Michael Shvo and 1411 Broadway (Credit: Google Maps)

These were Manhattan’s largest real estate loans in March

These were Manhattan’s largest real estate loans in March
Almost 50,000 retail stores have closed across the country, and the restaurant industry has lost $25 billion in sales since March 1, (Credit: Getty Images)

US will see $20B in retail loans come due starting this week

US will see $20B in retail loans come due starting this week
From left: Steve Ross, Eliot Spitzer and a rendering of 451 10th Avenue; Eyal Ofer and 10 East 29th Street; Extell CEO Gary Barnett and JPMorgan’s Jamie Dimon with the Diamond District (Credit: Getty Images; Illustration by The Real Deal)

These were Manhattan’s largest real estate loans in February

These were Manhattan’s largest real estate loans in February
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...