Arrow Real Estate Advisors arranges $73 million in construction financing for 18-story ground-up development

Manhattan, NY Arrow Real Estate Advisors, a real estate finance advisory firm, has arranged $73 million in construction financing from Madison Realty Capital for the ground-up development of 171 East 86^th St., an 18-story luxury condominium project on the Upper East Side. Arrow’s team of Morris Betesh, founder and managing partner, Omar Ferreira, senior vice president, and Jacob Petrovic, associate, negotiated the financing on behalf of Z.D. Jasper Realty.

Brown Harris Stevens Development Marketing is exclusively handling sales and marketing for 171 East 86^th St.

171 East 86^th St. is poised to become a defining new address on the Upper East Side. Combining Z.D. Jasper Realty’s proven track record of successful condominium developments with the neighborhood’s unmatched mix of cultural institutions, top schools, and premier retail, the project will deliver residences that set a new benchmark for luxury living.

“This was an important financing given the scale and timing of the project, and Madison Realty Capital quickly recognized both the strength of Z.D. Jasper’s track record and the exceptional positioning of 171 E. 86^th St.,” said Betesh. 

“The Upper East Side is one of the most attractive neighborhoods in Manhattan and all of New York City, which made the opportunity especially appealing. By aligning the right capital partner with a thoughtful structure, we delivered a financing solution that supports the Sponsor through construction and positions the project for a successful sellout.”