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

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
1277 East 14th Street, 45-57 Davis Street and 575 Grand Street (StreetEasy, Google Maps, iStock)
Mighty Midwood bookends top outer-borough loans
Mighty Midwood bookends top outer-borough loans
Lev CEO Yaakov Zar (LinkedIn, iStock)
CRE finance marketplace Lev raises $70M Series B, confirming TRD report
CRE finance marketplace Lev raises $70M Series B, confirming TRD report
Baruch Singer with 1508 Coney Island Avenue (Schnakel) Midwood, 92M
Humdinger: Baruch Singer lands $92M for Midwood spec office
Humdinger: Baruch Singer lands $92M for Midwood spec office
 Extell’s Gary Barnett with Times Square Hard Rock Hotel (iStock)
Gary Barnett’s Extell repeats as Manhattan’s top borrower
Gary Barnett’s Extell repeats as Manhattan’s top borrower
A photo illustration including a rendering of Third at Bankside in Mott Haven (top left), the Cunningham apartment complex in Queens Village (bottom left), and 47-05 Center Boulevard in Long Island City (right) (Google Maps, LoopNet, iStock)
Brookfield’s $438M Bronx deal tops outer-borough loans
Brookfield’s $438M Bronx deal tops outer-borough loans
Larry Silverstein in front of 7 World Trade Center (Getty Images, Francis Dzikowski, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
Silverstein refis 7 World Trade with $458M in green bonds
Silverstein refis 7 World Trade with $458M in green bonds
Slate Property Group's David Schwartz and Martin Nussbaum, Lam Group's John Lam and rendering of Victoria Tower (Slate Property Group, Lam Group, Aufgang Architects, Apollo Theatre)
Lam Group scores $168M for Apollo Theater residential project
Lam Group scores $168M for Apollo Theater residential project
(Loopnet, iStock, Google Maps)
Bronx nabbed February’s biggest outer-boro property loans
Bronx nabbed February’s biggest outer-boro property loans
arrow_forward_ios

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

Loading...