West Harlem condo gets $160M inventory loan
The Real Deal reported that Madison Realty Capital has provided Brooklyn-based Bespoke Living with a $160 million inventory loan for its nearly completed West Harlem condominium project. The 13-story building, is 80 percent complete with more than half of the units sold and with all contracts signed post-COVID. Bespoke Living managing partner Rachel Medalie said Madison “showed tremendous flexibility” even at the bleakest moments during the pandemic. As the existing lender on the project, Madison was able to leverage their familiarity with 300 West and their ability to finance residential projects through every stage of development to deliver a flexible financing solution creatively and efficiently.