The Calyx, 189 Avenue C -New York, NY
New York, NY Eastern Consolidated’s capital advisory division has arranged a $25 million inventory loan for The Calyx, a newly constructed, 10-story, 31,872 s/f condominium featuring 35 residential units and commercial and community facility space at 189 Ave. C in the East Village.
The lender was RCG Longview, and the borrower OTL Enterprises LLC.
Adam Hakim and Sam Zabala, managing directors in Eastern Consolidated’s capital advisory division, handled the transaction, which will provide bridge financing while the sponsor sells the remaining condo units. James Murad, director, financial services, served as the analyst on the deal.
“The Calyx is a full-service luxury condominium with prices ranging from $540,000 to $1.45 million, which is a fantastic value in today’s Manhattan market, especially in the East Village,” Hakim said. “Conveniently located on Avenue C between 11th and 12th Sts., the building is just a few blocks from Tompkins Sq. Park, popular restaurants, and vibrant nightlife.”
Million Dollar Listing broker Ryan Serhant of Nest Seekers, was recently hired to handle sales for the building. A number of the residential units and the commercial and community facility space are already in contract.
All of the studio, one, and two-bedroom residences in The Calyx feature open floorplans and custom interiors that are drenched with natural light. Luxurious finishes include hand-laid hardwood flooring, sleek cabinetry, handcrafted kitchen and bathrooms, custom stainless steel kitchen packages by Bosch and Fisher & Paykel, and GE washer/dryers. Select residences offer private outdoor space.
OTL Enterprises, LLC was founded over 25 years ago and is a full spectrum construction management and real estate development firm based in Tribeca. OTL has constructed over 1,000,000 SF of residential, commercial, and retail property in and around New York. OTL brings keen insight and a proven track record to the real estate world through both their finance and construction expertise. More information about OTL is available at otl.net, and more information about The Calyx is available at thecalyxnyc.com.
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