The Dermot Company secures a $355 million refinancing for the 616-unit residential tower at 21 West End Ave. on Manhattan's Upper West Side.
The Dermot Company has finalized a 10-year, $355 million refinancing package for 21 West End Ave., a 48-story multifamily property located on Manhattan’s Upper West Side. The financing was provided by Mizuho Americas in collaboration with New York State Homes and Community Renewal. The building, which initially opened in 2016, features 616 total units, including 127 units of affordable regulated housing.
According to Drew Spitler, partner and CFO of The Dermot Company, the move was a proactive measure to enhance liquidity and align the asset with the firm's long-term ownership strategy as previous debt approached maturity. This transaction follows the company’s recent $283 million refinancing of the nearby 101 West End Ave. property.
A housing lottery has opened for the 2334-2336 Valentine Avenue multifamily development in the Fordham neighborhood of The Bronx.
The US government secures a court order to forfeit a $6 million luxury condo in Manhattan's Flatiron district linked to the 1MDB fraud case.
Mayor Zohran Mamdani’s housing plan aims to create 400,000 units, but critics argue existing policies and labor requirements under the 485x tax program hinder necessary capital improvements and new production.
WellLife Network files plans for a 165-unit, 105,697-square-foot residential building at 129 Osborn Street in Brooklyn.
Permits have been filed for a residential project at 33-28 148th Street in Flushing, Queens.
A housing lottery has launched for HELP Hinsdale C, a new residential building located at 314 Hinsdale Street in East New York, Brooklyn.
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