The Real Deal New York

Anbau nabs $67M Bank of the Ozarks loan for UWS condo

Developer building 13-story condo at 207 West 79th Street
Rendering of and

Rendering of the proposed new building at 207 West 79th Street on the Upper West Side and Anbau’s Stephen Glascock

Anbau Enterprises landed a $66.6 million construction loan from Bank of the Ozarks for its Upper West Side condominium development at 207 West 79th Street.

Anbau is developing a 13-story, 71,000-square-foot condo building featuring 19 apartments and 5,000 square feet of ground-floor retail space. The company bought the site for $39 million in April 2015.

Eastern Consolidated’s Adam Hakim and James Murad brokered the loan, according to Commercial Observer.

Anbau is also developing a 24-story apartment building at 39 West 23rd Street in the Flatiron District and a 34-story tower at 360 East 89th Street in the Upper East Side.  Earlier this year, it reportedly bid $130 million for a giant Brooklyn Heights development site, but the deal fell apart when the property’s shareholders voted against it. [CO] – Konrad Putzier