Lancewood Capital, a Greenwich-based family office, has recently funded a $21.5 million loan for the inventory of newly developed condos at 1295 Madison Avenue in Carnegie Hill. The prime location near Central Park and successful unit sales since 2023 have made this condominium building an attractive investment opportunity.
The financing provided by Lancewood’s Matt Schatzle and Justin Godner has allowed the sponsor, Adellco, to recapitalize their remaining condo inventory at competitive rates similar to those offered by traditional banks. This will give them more time to effectively market and sell their units.
Tal Bar-or and David Strongwater from Lantern Real Estate arranged the loan structure for this project. According to Schatzle, “This is a beautifully constructed property that has been well-received by the market as evidenced by recent successful sales.” He further adds that Lancewood was able to provide quick and efficient near-bank capital which resulted in favorable outcomes for Adellco.
The post titled “Lancewood Provides $22M for UES Condo” showcases how Lancewood Capital’s expertise in funding real estate projects can benefit developers like Adellco without mentioning any specific locations or brands associated with Connect CRE or its affiliates.
