$11.05 Million Loan to Facilitate Luxury Multifamily Development in Manhattan
March 11, 2022 — Fort Amsterdam Capital, an affiliate of Sugar Hill Capital, has provided an $11.05 Million bridge loan to facilitate the development of an 11-story, mixed-use condominium on a highly trafficked street in the NoMad neighborhood of Manhattan. The loan is collateralized by the fee simple interest in two sites as well as the leasehold interest in two additional sites. Collectively, the four sites have 60,000 square feet of zoning floor area and 200 feet of frontage. The Loan funded the acquisition of the sites, initial soft costs, and provides additional capital necessary for the redevelopment process. The Sponsors have extensive experience in developing and investing in real estate throughout New York City and across the country.