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Developers Landsea Homes and Leyton Properties have locked down a construction loan for their condominium development on the Upper West Side.
The planned 14-story development at 212 West 93rd St. would feature 20 condos and outdoor space as well as a new 9K SF synagogue. BofI Federal Bank provided the financing, according to a joint release from the companies, worth $40M. Ackman-Ziff Real Estate Group arranged the financing.
ODA Architecture’s Eran Chen is designing the project. The building is Landsea Homes’ first ground-up development in Manhattan, and is part of the developer's plan to expand into major cities in the United States.
Landsea is developing a 183-unit building in Weehawken in New Jersey, as well as a 30-story tower in Boston’s Fenway neighborhood.
“We are thrilled to close this transaction as it marks an important milestone for Landsea Homes’ first ground up new development project in Manhattan," Landsea Senior Vice President of Operations Thomas Graham said in a statement.
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