Lionheart Strategic Management and Centennial Bank provide $142 million in financing for residential development at Edge-on-Hudson in Sleepy Hollow, NY

Lionheart Strategic Management LLC (Lionheart), a subsidiary of Fisher Brothers that manages capital on behalf of third-party investors, today announced that it will provide a $37.2 million mezzanine loan behind a $105 million senior loan. million dollars from Centennial Bank to a project team consisting of Biddle Real Estate Ventures (BREV) and PCD Development. The funding will be used to develop a 100-unit luxury waterfront condominium at Edge-on-Hudson, the new mixed-use, transit-oriented development in Sleepy Hollow, New York.

“The sponsors have brought together a top-tier construction, design and development team who will deliver a highly developed and unique residential product in an unparalleled location as part of Edge-on-Hudson’s largest prime development,” said Andy Klein, managing director of Lionheart Strategic Management LLC. “This project will meet the continued and growing demand for new, quality residential products in Westchester County. With easy connectivity to New York via Metro-North and freeways, proximity to river towns along the Hudson River, unobstructed views and a walkable community feel, this project will appeal to urban dwellers looking for a NYC-caliber luxury product. as residents of Westchester seeking to improve their lifestyle. We are thrilled at the opportunity to partner with Biddle Real Estate Ventures, PCD Development, Centennial Bank and the entire team to execute what will be a transformative part of a place-making project.

Peter Chavkin, Founder of Biddle Real Estate Ventures, commented: “The Daymark will provide a truly remarkable experience in waterfront living. We are delighted to have the support of Lionheart Strategic Management and Centennial Bank behind us to bring this project to fruition, as well as the design expertise of COOKFOX Architects and the experienced team at Hines as development leads. .

Jon Stein, Founder of PCD Development, added, “Edge-on-Hudson is proving to be one of the most desirable mixed-use developments in the New York City metro area, and The Daymark raises the bar even higher. “

Hines, the project’s development manager, will work alongside the project team to develop the five-story, 100-unit condominium with over 9,000 square feet of retail at the base of the building. Many residences will have stunning waterfront views and tenants will have access to a number of amenities including a pool, fitness center, resident lounge and rooftop terrace. Construction is expected to begin in fall 2022.

Lionheart recently celebrated $1 billion in investor commitments for various real estate lending strategies in markets around the world and deployed more than $500 million in capital throughout the firm’s tenure.

Andy Klein, Robert Kamenec and Benjamin Eshiwani led the transaction for Lionheart Strategic Management.

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