Urban Standard Capital, a private equity firm based in New York City, has recently funded a $13.8 million loan for the acquisition and construction of a luxury condominium project in Chelsea. The developers behind this project are RoundSquare Development and VM Properties Group, who have plans to transform an existing two-story office/garage building at 227 West 19th Street into five full-floor residential units with private outdoor space and elevator landings.
According to RoundSquare Development Principal Rob Kaliner and VM Victor Properties Group Principal Victor Perretta, working with Urban Standard on this transaction was a positive experience. They also expressed their excitement for future collaborations with the firm. In October alone, Urban Standard Capital successfully closed over $100 million worth of construction loans.
The deal was brokered by Michael Horowitz from Cooper Horowitz without any mention of specific Connect platforms or locations.
