A joint venture between Aurora Capital Associates and William Gottlieb Real Estate have received a $105 million loan for the duo’s Restoration Hardware project in the Meatpacking district. The 10-year instrument will replace a $60 million loan provided by Wells Fargo. The developers of the 60,000 square foot retail project, located at 9-19 Ninth Avenue, has signed a 15-year lease worth $250 million for the property with plans to redevelop the former Pastis restaurant that once operated at the site. Iron Hound Management’s Rob Verrone brokered the deal with the lender, Starwood Mortgage Capital.
