The Jay Group has successfully obtained $92 million in construction financing for its new multifamily development located in Inwood, northern Manhattan. The loan was provided by BHI and will fund the 18-story residential tower, which will replace a former gas station at 401 West 207th Street. This project spans over 302,000 square feet and features a total of 270 apartment units. Under New York City’s Mandatory Inclusionary Housing program, approximately one-fourth of these units will be designated as affordable housing.
Meridian Capital Group’s Morris Betesh, Omar Ferreira and Dov Jeremias were responsible for negotiating the financing deal on behalf of The Jay Group. With this funding secured, construction on the Inwood residential tower can move forward with confidence.
Note: Omitted any mention of “Connect” or “Connect CRE” or “Connect LA” or “Connect Texas”.
