Northwind Group, a New York-based real estate debt fund manager and private equity firm, has provided a $100 million senior A-Note as part of a $207 million senior leasehold mortgage for the Hudson Hotel located at 358 West 58th Street. The 24-story former hotel is currently undergoing conversion into 441 multifamily units and 51,474 square feet of retail space. Originally capitalized by Montgomery Street Partners and Parkview Financial in 2022, Northwind Group’s loan was issued through its recently launched A-Note financing product which offers senior tranche capital stacks for residential deals nationwide with loan sizes of $50 million or more.
Ran Eliasaf, founder and managing partner of Northwind Group commented on the transaction: “We recognize there is an increasingly large gap in the market due to commercial banks stepping back from regulatory issues – we are excited to provide our A-Note loan to help fill this void.”
