POSTED BY GRIEVE AT 4:57 AM
MONDAY, JULY 7, 2014
[Photo by Bobby Williams]
Here’s a photo from Saturday showing the incoming dorm on Cooper Square and East Sixth Street … worth noting because it looks about at the halfway point, on the way to 13 floors for Marymount Manhattan College.
ABDO and Sherwood Secure $42M Perm Loan for 35 Cooper Square
Arun Bhatia Development Organization (ABDO) and Sherwood Equities have received $42 million in permanent financing from Helaba Bank for their recently-completed student housing development at 35 Cooper Square, Commercial Observer can first report.
The debt will be used to pay down the construction loan previously provided by Helaba, Anand Bhatia, vice president at ABDO told CO. This loan represents the second major student housing lending transaction between ABDO/ Sherwood and Helaba, which also financed the joint venture’s 648 bed dormitory project at 318 East 15th Street — which was leased to The New School.
“Student housing projects appeal to us, because they offer the opportunity for long-term development and also the opportunity to provide unique services for a university-age tenant,” said Anand Bhatia.
The firm’s 12-story Cooper Square project, which also has the address of 200 East 6th Street, is now fully leased and being used as student dormitories by Marymount Manhattan College. The residence includes 275 beds, a state-of-the-art gym, TV lounge, study rooms and a landscaped terrace on the seventh floor. It also includes 3,600 square feet of street-level retail.
Looks like this one slipped under the radar. Its complete.
It sucks schlong that they razed a building from the early 1800s for this . Yimby reported that the greedy pigs (not his words) at Lighthouse Group plan to raze a group of beautiful old buildings on East 11th St. NY’s lack of protection for historic buildings is disgusting and simply serves the pigs at the trough who masquerade as developers.
amen,
and considering that they are tearing down beautiful old buildings in established neighborhoods for despicably cheap and ugly architecture
I think that this new building, while not great, is acceptable, but it’s dusgraceful that it replaced a historic building from the early 1800s.
