New York, NY $7,100,000 Mixed-use Refinance

Knighthead Funding provided a $7,100,000 refinance and construction loan secured by a first mortgage on 805 Ninth Avenue, Manhattan, NY.  The property is a six-story mixed-use building with five residential condominiums and a grade-level retail unit. The building will total 10,455 sellable SF (12,465 Gross SF). Knighthead’s Loan refinanced a maturing bank construction loan and provided completion dollars to finish the project which was approximately 62% complete at closing.