12-story Manhattan’s apartment building secures $30 million construction loan

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Parkview Financial said it has provided a $30 million construction loan to 63 Pitt Street LLC for the construction of a 12-story apartment building in New York City.

The 59-unit, 40,773-sq.-ft. apartment building is located at 63 Pitt St. in New York City. The site totals 5,025 sq. ft. and is located on the west side of Pitt St. in the Lower East Side neighborhood of Manhattan.

The project will include 11 studios, 39 one-bedroom units and nine two-bedroom units. Eighteen of the units will be allocated for affordable housing. The units will feature washer/dryers, full size kitchens with upgraded appliances, hardwood flooring throughout, oversized windows, and a 24/7 virtual doorman and Latch apartment entry. On-site amenities are planned to offer tenants a rooftop deck, gym, package room, basement storage, laundry, and bike storage.

Construction is expected to be completed in July 2022.

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