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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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Sonnenblick Goldman Arranges $27 Million Construction
Financing for West Village Condominium
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Thursday, May 10, 2007
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New York, NY
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Sonnenblick Goldman, serving as the exclusive advisor to an affiliate of Tamarkin Co., has arranged a $27 million acquisition and construction loan for the development of a luxury condominium building to be located at 397 West 12th Street, in Manhattan’s West Village. The Bank of New York provided the financing.
"Tamarkin Co.’s extensive development experience, the high quality of the proposed development, and the superb location of the project were all factors that induced multiple lenders to bid aggressively to make this loan," noted Steven Kohn, president of Sonnenblick Goldman.
397 West 12th Street will be a 10-story building with a ground-floor commercial unit and four residential units, ranging in size from 3,600 to 6,600 square feet. The location is directly across West Street from the Hudson River on a cobblestone tree-lined block.
The building has been designed as an elegant and simple architectural statement, with a brick facade incorporating dramatic walls of multi-paned steel windows, evoking the industrial maritime warehouse character of the neighborhood. The core and shell will be of the highest quality of craftsmanship and detailing, with the apartments to be delivered as unfinished space, allowing the buyers to custom-design these vast spaces into unique architectural visions.
397 West 12th Street is the latest of several boutique luxury condominium projects developed by Tamarkin Co., which is headed by Cary Tamarkin. These other projects include: 495 West Street, 47 East 91st Street, 140 Perry Street, and 206 West 17th Street. All of these buildings are among the most desirable residential addresses within their respective neighborhoods.
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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