Bank Hapoalim Supplies $40M Construction Loan for Flatiron Condo Project
By Andrew Coen December 12, 2022 11:53 am
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Glacier Capital Partners has nabbed $40 million of construction financing to build a condominium residential tower in Manhattan’s Flatiron neighborhood, property records show.
Bank Hapoalim provided the loan for Glacier’s planned 19-story project at 200 East 20th Street.
Glacier, which is led by Yaniv Blumenfeld, acquired the property for $10 million in 2015, according to New York YIMBY. The site was previously a four-story mixed-use building.
Excavation of the property began in September, and completion is slated for June of 2024, New York NIMBY reported. When completed, the building — designed by CetraRuddy — will comprise 82,800 square feet with 52 condo units and 2,730 square feet of retail space. Its community amenities will include a fitness center, a pet spa, a children’s playroom and bicycle storage.
Blumenfeld did not immediately return a request for comment. Bank Hapoalim declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
