Madison Realty Capital has secured a $105M construction loan to build a 19-story condo tower in Greenwich Village in Manhattan a block away from Washington Square, a project the was proposed two years ago but generated opposition from the neighborhood.
G4 Partners is providing the financial package for the building at 14 Fifth Avenue, between 9th and 10th streets. G4 has replaced Connectone Bank as the senior lender on the project. Connectone provided Madison with a $29.6M loan in 2021.
The Village Preservation Society tried to block the project, which demolished a four-story, partially rent stabilized 20-unit apartment building on the site.
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