{"id":1004124439,"date":"2015-08-03T01:40:28","date_gmt":"2015-08-03T09:40:28","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=356834"},"modified":"2020-04-08T08:27:35","modified_gmt":"2020-04-08T16:27:35","slug":"a-broadway-medley-from-commercial-loft-to-luxury-condos","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/a-broadway-medley-from-commercial-loft-to-luxury-condos\/","title":{"rendered":"A Broadway Medley: From Commercial Loft to Luxury Condos"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">809 Broadway Holding LLC, a partnership of three Israeli investors led by Ariel Rom, has landed a construction loan for a new residential project at 809 Broadway in Manhattan.<\/p>\n<div id=\"attachment_356842\" class=\"wp-caption alignright\" style=\"width: 201px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Rendering-of-809-Broadway-Manhattan.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-356842\" title=\"Rendering of 809 Broadway - Manhattan\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Rendering-of-809-Broadway-Manhattan.jpg\" alt=\"Rendering of 809 Broadway - Manhattan\" width=\"191\" height=\"300\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Rendering of 809 Broadway &#8211; Manhattan<\/p>\n<\/div>\n<p style=\"text-align: justify;\">As reported by the <em><a href=\"https:\/\/commercialobserver.com\/2015\/07\/iron-hound-brokers-30m-construction-loan-from-natixis-for-809-broadway\/\" target=\"_blank\" rel=\"nofollow\">Commercial Observer<\/a><\/em>, <a href=\"https:\/\/www.re.natixis.com\/\" target=\"_blank\" rel=\"nofollow\">Natixis Real Estate Capital<\/a> provided the $30 million loan in a debt deal negotiated by <a href=\"https:\/\/ironhoundmgmt.com\/\" target=\"_blank\" rel=\"nofollow\">Iron Hound Management<\/a>\u2019s Christopher Herron on behalf of the borrower. The financing follows a $14 million acquisition loan also provided by Natixis in early 2014, and paves the way for a 15-story residential condominium that will be developed in two phases by New York-based IDM Capital.<\/p>\n<p style=\"text-align: justify;\">809 Broadway will occupy a 5,033-square-foot lot between 11<sup>th<\/sup> and 12<sup>th<\/sup> streets south of Union Square in Greenwich Village. The site was purchased by 809 Broadway Holding LLC from pool table manufacturer Blatt Billiards in February 2014 for $24 million in a transaction brokered by Joe Berko\u2014founder and president of <a href=\"https:\/\/www.berkoassociates.com\/\" target=\"_blank\" rel=\"nofollow\">Berko &amp; Associates<\/a>\u2014who represented both the buyer and the seller. The site is currently occupied by a five-story building that will be incorporated into the residential development.<\/p>\n<p style=\"text-align: justify;\">Designed by <a href=\"https:\/\/www.oda-architecture.com\/\" target=\"_blank\" rel=\"nofollow\">ODA Architecture<\/a>, the $55 million project calls for a 40,000-square-foot building that will comprise 10 luxury condos starting from the second floor\u2014including a duplex and a triplex penthouse on the top floors\u2014,as well as 5,000 square feet of street-level and underground retail space and outdoor terraces.<\/p>\n<p style=\"text-align: justify;\">Construction at 809 Broadway is scheduled for completion in 2017 or 2018, the <em>Commercial Observer<\/em> reported.<\/p>\n<p style=\"text-align: justify;\"><em>Rendering via ODA Architecture<\/em><\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>809 Broadway Holding LLC, a partnership of three Israeli investors led by Ariel Rom, has landed a construction loan for a new residential project at 809 Broadway in Manhattan.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1600,21742],"tags":[],"class_list":["post-1004124439","post","type-post","status-publish","format-standard","hentry","category-new-york","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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