April 25, 2017
A plan to build 24 luxury condominiums in Lower Manhattan’s Tribeca neighborhood will receive $21 million from a European equity fund.
Cape Advisors, Inc. and Forum Absolute Equity Partners, a private equity fund based in New York, are planning the luxury condominium community at 69 West Broadway, in a new, $120 million, eight-story tower designed by BKSK Architects.
“Given the current challenges in securing capital for condominium development, this deal is a testament to the quality of the location, development team and long-term strength of New York City’s residential market,” said Eric Anton, senior managing director for HFF’s equity placement team, which arranged the equity infusion from the European fund.
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