Apollo Supplies $114M Construction Loan on West Village Condo Project
Aurora Capital Associates has inked $114 million of construction financing for a planned ground-up condominium development in Manhattan’s West Village neighborhood, Commercial Observer has learned.
Apollo Global Management (APO) provided the loan for Aurora’s 11-story condo project at 140 Jane Street, according to Newmark (NMRK), which brokered the deal that closed Wednesday. The property was previously known as 134 Jane Street when it was vacant and used as a parking lot.
Newmark arranged the transaction with a team led by Dustin Stolly and Jordan Roeschlaub, Co-Presidents of Debt and Structured Finance along with Christopher Kramer, Nick Scribani and Benjamin Kroll.
Aurora filed plans to develop the 106,000-square-foot property in 2021. It will have 11 units with a mix of three-, four-, five- and six-bedroom condos, according to Newmark. Construction commenced in May for the project, which will also include 200 square feet of retail space, The Real Deal reported.
Spokespeople at Apollo did not immediately return a request for comment. Aurora declined to comment.
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