Grand Cru Real Estate secures a $52.5M loan from S3 Capital for the construction of a new condo tower at 1527 York Avenue. This financing will support the development of a 28-unit residential project in Manhattan.
Amount Raised
$52.5 Million
Round Type
Debt Financing
New YorkReal EstateReal Estate InvestmentCommercial Real EstateInvestors
Description
Grand Cru Real Estate (GCRE) has received a $52.5 million loan from S3 Capital for the development of a condominium tower on Manhattan's Upper East Side. The financing will fund the construction of a 20-storey residential building comprising 28 units. This marks the second collaboration between S3 Capital and GCRE, following a prior financing for another project. The loan closed alongside the sponsors' acquisition of the project site.
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