Marathon Asset Management has facilitated a $120 million construction loan for the development of 125 Perry St., a luxury residential project located in Manhattan’s West Village. Led by managing director Joseph Griffin, Marathon’s team worked closely with sponsor Alf Naman Development and preferred equity partner Ascendant Capital Partners to structure and secure the loan.
“We are thrilled to be involved in the revitalization of 125 Perry St. and will continue to offer lending solutions for various asset types and locations through our extensive network relationships, deep property expertise, and unique market insights,” stated Griffin.
The project involves transforming a historic four-story parking garage from the 1930s into an ultra-luxury condominium complex consisting of seven units. With contracts already signed for nearly 60% of the units, completion is anticipated for 2026.
Rendering courtesy of Sciame Construction.
