BHI has provided $60 million in financing for the bulk acquisition of 70 residential condominium units in the Charlie West building, located at 505 West 43rd Street in Hell’s Kitchen.
The borrower is a joint venture of Tishman Realty & Construction and PIMCO, which is acquiring the units, totaling 76,897 s/f, from Charlie West developer, the Elad Group for $87.37 million
Completed in 2019, Charlie West (pictured top) rises 16 stories and has 123 units. Apartment interiors feature open living rooms, floor to ceiling windows, wide-plank oak wood floors, marble en-suite bathrooms and stainless steel appliances. The building has an indoor/outdoor pool, rooftop terrace, fitness center, library, residents’ lounge, children’s playroom and bike storage. BHI had provided construction financing for the project.
“BHI’s highly knowledgeable real estate team is very familiar with Charlie West and has become a strong partner with us. They have demonstrated solid support of our marketing plans for these appealing residences,” said Obaid Khan, CFO of Tishman Realty.
“We are pleased to welcome Tishman Realty as a new client and look forward to a productive collaboration. Charlie West is an extremely desirable building at affordable luxury price points, with a Midtown West location that continues to be one of the city’s fastest-growing areas,” said Ilana Druyan, BHI First Vice President and Head of International Originations Real Estate.