Opal Holdings has secured a $14.8 million non-recourse construction loan for a mixed-use residential development planned for 207 W. 75th St. Located near historic Beacon Theater between Broadway and Amsterdam Avenue’s, the project will feature a 20,000 sq ft, seven-story building, that will offer approximately 5,000 square feet of ground and lower level retail space. Financing was arranged thru Eastern Union’s Jake Gluck and Jonathan Singer.
“Demand for Upper West Side condominiums is considerable, and it’s becoming increasingly difficult for developers to find well-located parcels to build new product,” said Jack Gluck, Eastern Union. “As a result, interest in this construction loan was significant and we closed with a lender that has been actively trying to expand into this market.”
