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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. ....
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From left: Jerry Speyer, Rob Speyer, Bill Rudin, Peter Malkin and Anthony Malkin Seymour Durst and his brothers built six Manhattan buildings in a 12-year run. Paul and Seymour Milstein built 10 in about the same amount of time. And Lew and Jack Rudin built 11 in two decades. The breakneck pace of development which was largely clustered in the 1960s and the 1980s by those three families, and a slew of others, laid the foundation for many of New York City’s most established real estate dynasties. (Think Tishman, Fisher, Malkin, Resnick, LeFrak, Rose, and Zeckendorf.) Indeed, after passing down their real estate portfolios from one generation to the next, many of those families are sitting on bricks-and-mortar fortunes today. ....