Urban Standard Capital, a private equity firm based in New York City, has recently supplied a $13.8 million loan for the acquisition and construction of a high-end condominium project located in Chelsea. The developers behind this venture are RoundSquare Development and VM Properties Group, who have ambitious plans to convert an existing two-story office/garage building at 227 West 19th Street into five luxurious residential units. These units will boast private outdoor spaces 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 an excellent experience for their team. They express excitement about continuing their partnership with the firm moving forward. In October alone, Urban Standard Capital successfully closed over $100 million worth of construction loans – thanks in part to Michael Horowitz from Cooper Horowitz who brokered this particular deal.
The article “Urban Standard Capital Provides $14M for Chelsea Condo” originally appeared on Connect CRE’s website.
