Manhattan, NY Cole Schotz P.C. has advised G4 Capital Partners in a $75 million loan to Jeffrey Dagowitz’s JHG Holdings and investor Adam Neumann for a future project on West 23rd St. G4 provided the debt, which refinances $65 million on the site from Nov. 2017 and acts as a bridge loan.
The development site, located at 123 W. 23rd St., has 243,000 s/f in development rights, which could be used for a mixed-use hotel and residential development, or a mixed office and retail project.
The Cole Schotz team included members Leo Leyva, Rab Nalavala, Danielle Pasquariello, and associate Jennifer Chung.
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