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
July 08, 2016 09:34AM

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