RIPCO Real Estate closes condo construction loan at 842 Sixth Ave. for $76.7 million

Manhattan, NY RIPCO Real Estate has secured $76.7 million in first mortgage construction financing for 842 Sixth Ave., a luxury condominium development located in the NoMad neighborhood. Upon completion, the 27-story building will comprise 101 units and total 85,176 sellable s/f, including 100 residential units encompassing 80,913 s/f and a single retail condominium of 4,263 s/f spanning the cellar and first floor.

RIPCO Real Estate’s debt & structured finance team — Adam Hakim, executive managing director; James Murad, managing director; and Alexander Korolik, junior associate — exclusively represented the borrower, 842 Edenview LLC, and arranged the loan. Charlie Brosens of Urban Standard Capital served as the lender.

“We’re proud to have facilitated financing for what will be a standout development in the heart of NoMad. This project represents the continued evolution of the neighborhood into one of Manhattan’s premier destinations for luxury living,” said Hakim.

“842 Sixth Ave. is the culmination of our commitment to creating spaces that reflect the energy and sophistication of New York City, while offering residents a sense of tranquility in the heart of it all. We’re thrilled to bring this vision to life in NoMad and grateful to RIPCO and Urban Standard Capital for their partnership and belief in the project,” said Burton Hung Pin Hung, managing member, Pro-H Group Inc.

Located in the NoMad neighborhood, 842 Sixth Ave. aims to set a new standard for condominium living in New York City — combining architectural excellence, thoughtful design, and a harmonious balance of indoor and outdoor spaces. The area is also known for shopping and dining, from boutique stores and specialty markets to Michelin-starred restaurants and international eateries. With convenient access to major subway lines and proximity to Penn Station, residents will enjoy connectivity throughout the city and beyond.

“We’re proud to support this transformative project and to partner with a highly capable sponsor. We’re excited to see this condominium development come to life and contribute to the continued growth and vibrancy of NoMad,” said Seth Weissman, founder and managing partner of Urban Standard Capital.

“At the heart of every successful project is a partnership built on trust and shared vision. Pro-H’s thoughtful reimagining of 842 Sixth Ave. as a serene, high-design residential oasis resonates with our lending philosophy — and we’re excited to be part of bringing it to life,” said Charlie Brosens, partner at Urban Standard Capital.