611 West 56th Street
New York, NY

Investment Type: Mezzanine Financing
Property Description: Residential Development
Loan Amount: $35MM

• MRC originated a $35MM construction mezzanine loan for a to-be-constructed residential condominium building in the Hudson West neighborhood of Manhattan, New York.

• Upon completion, the property will be a 36-story, 160,000 SF luxury residential condominium containing 83 for-sale residential units and over 1,200 SF of retail space.

• The sponsors, architects, designers, and construction managers associated with this project are all well-known and highly regarded, and have completed numerous projects of this size and scope in the past, both in the United States and abroad.

• The project will benefit from its proximity to Hudson Yards, which has created a “western shift” across Manhattan.