Alchemy Properties and its development partner the Carlyle Group have landed a $102 million loan for the planned 32-unit condominium building on the Upper West Side. The funding, which was supplied by Bank of the Ozarks, consists of a $59 million construction loan and a $42.5 million loan to replace an acquisition loan from Israel Discount Bank. Located at 2255 Broadway, at the corner of West 81st Street, the plans call for an 18-story, mixed use building, totaling 95,139 square feet with 31 residential units and 11,587 sqf of ground-floor retail. The project is currently under construction and will be branded as 250 West 81st Street. The duo bought the site in 2016 for $51 million. Stribling & Associates, together with Alchemy, will market the luxury units which are slated for completion in spring 2019.
