January 14, 2019
Canyon Partners Real Estate has provided a $20.3-million mezzanine loan to a joint venture between KD Sagamore Capital and Ranger Properties to finance the development of 199 Chrystie St. on the Lower East Side. Construction on the 14-unit boutique condominium project is scheduled to begin immediately.
“There is so much vibrant culture and history present in the Lower East Side,” said KD Sagamore principal Charles Dubroff. “The area really is a blend of old and new. Despite the transformative architectural, culinary, and artistic developments that have been introduced to the neighborhood, there is still a sense of timelessness and we are excited to be a part of it.”
Designed by architect Thomas Juul-Hansen, the property is within close proximity to four subway stations servicing eight lines. Many units will offer private terraces, duplexes with double-height living rooms, floor-to-ceiling windows, and semi-exclusive full-floor main entrances.
For comments, questions or concerns, please contact Paul Bubny