Peck and Knapp of HFF secure $97.1 million in financing for 111 Leroy, a PMG-developed condominium in the West Village

May 21, 2019 - Financial Digest
Christopher Peck, HFF

 

Kristen Knapp, HFF

 

Manhattan, NY Holliday Fenoglio Fowler, L.P. (HFF) has secured $97.1 million in financing for 111 Leroy, a condominium development in the West Village.

111 Leroy - Manhattan, NY

HFF worked on behalf of the developer, Property Markets Group (PMG), to arrange the two-year, floating-rate financing through Rialto Capital Management. Loan proceeds were used to finance unsold condo inventory at the development, which consists of 13 residences and four townhouses totaling 50,000 sellable s/f. HFF previously secured construction financing for the project, which is now in the final stages of development.

The HFF debt placement team included managing director Christopher Peck and analyst Kristen Knapp.

111 Leroy consists of 18 bespoke residences within a 10-story, mid-rise tower at the corner of Greenwich St. in the West Village. The residences offer a variety of studio through four-bedroom floor plans ranging from 506 to 3,370 s/f and the project’s five three- and four-story townhouses include multiple private terraces with fire pits, outdoor kitchens, hot tubs and private elevators. The townhouses are available in a variety of four and five-bedroom layouts averaging 5,397 s/f. The one five-bedroom townhouse unit also includes a private parking garage with direct entry. Homes will include high ceilings, nine-inch white oak flooring, LG washers and dryers, radiant floor heating, energy efficient HVAC systems, custom walnut cabinetry and Savant home automation.

111 Leroy will also feature a 24-hour doorman, gym, resident’s lounge, water views, and a landscaped yard with arbor garden, lounge area, fire pit and barbecue.

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