BHI Provides $80MM Construction Loan to Building Project in New York

BHI provided an $80 million construction loan to 200 East 20th St. The 200 East project, owned by the Tidhar Group affiliate, is a development of a new condominium building located at 20th Street and Third Avenue in the Gramercy Park neighborhood of Manhattan, NY. Completion of the project is anticipated for 2024.

“We have maintained an ongoing banking relationship with the Tidhar Group and are excited to provide the financing for the firm’s prestigious new project in Gramercy, one of the most dynamic areas of Manhattan,” Ilana Druyan, first vice president, real estate international at BHI, said. “200 E. 20th Street complements our strategic focus on residential condominium developments and the financing of significant projects in key locations.”

“BHI worked in close partnership with us to complete this transaction,” Gil Geva, Chairman of Tidhar Group, said. “The bank’s commercial real estate team has extensive expertise in the New York City market, understands the needs of our business and continues to support our ongoing initiatives.”

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