Richman Group lands $189M for massive East Harlem project

Financing package comes from Citigroup, HDC and HPD

TRD New York /
Jan.January 11, 2019 04:00 PM

201 East 125th Street (Credit: Google Maps)

Richman Group has landed a $188.5 million financing package to construct of one of the biggest projects coming to New York City.

The loans for 201 East 125th Street in East Harlem come from Citigroup, the Department of Housing Preservation and Development and the New York City Housing Development Corporation, according to the Commercial Observer. Freddie Mac has also agreed to provide the project with a credit enhancement on a future permanent financing agreement.

The project will stand 19 stories tall and contain 404 units across 421,000 square feet, including 61,000 square feet of ground-floor retail. S9 Architecture is designing the project, which was the largest filed in New York City in December. [CO] Eddie Small


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Renderings of 130-02 South Conduit Avenue and Triangle Equities’ Joshua Weingarten (Credit: Terminal Logistics)

Triangle Equities lands $87M loan for massive JFK warehouse project

From left: 172 Madison Avenue, 100 East 53rd Street, Woolworth Tower, 53 West 53rd Street, 615 10th Avenue

Loan wolves: Bankers are stalking developers as debts come due

State Sen. Julia Salazar and Assembly member Harvey Epstein proposed the tax this month in an effort to disincentivize real estate speculation (Credit: iStock, Getty Images)

Experts take issue with proposed tax on mezzanine loans

Brookfield's largest-ever $15B property fund has invested in properties from New York (666 Fifth Avenue) to Bangalore (the Leela Palace hotel) (Credit: Brookfield, Getty Images, Leela)

Real estate fundraising hits lowest level since 2013

Some investors continue to find U.S. commercial real estate as attractive places to park their capital (Credit: iStock)

Brexits and Bubbles: How investors view Europe’s shaky real estate market

Nightingale’s Eli Schwartz and 111 Wall Street (Credit: Google Maps)

Nightingale partnership closes on $175M purchase of 111 Wall

arrow_forward_ios
Loading...