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The Jay Group has successfully obtained $92 million in construction financing for its new multifamily development located in Inwood, northern Manhattan. The 18-story residential tower, situated at 401 West 207th Street, will be funded by BHI and is set to replace a former gas station. This project spans over an impressive 302,000 square feet and will consist of 270 apartment units. As per New York City’s Mandatory Inclusionary Housing program requirements, a quarter of these units will be designated as affordable housing.

Meridian Capital Group’s Morris Betesh, Omar Ferreira and Dov Jeremias were responsible for negotiating the financing deal on behalf of The Jay Group.

The article “Jay Group Secures $92M on Inwood Resi Tower” was originally published on Connect CRE.