Vault Development Partners and TLM Equities have closed on a $20.1 million construction loan to complete a condominium development on Manhattan’s Lower East Side. Located at 66 Clinton Street, the building will top out at seven stories and eventually contain 12 apartments and a collection of amenity spaces.
“This is a construction completion loan that converts to a condo inventory loan upon C of O,” said Robert Levine, an associate at Urban Standard Capital, which provided the financial package. “We upsized the existing loan, as we believe the sponsors have created tremendous value and are going to deliver the best product in the submarket.”
Designed by C3d Architecture, the building’s exterior will feature pale gray masonry, slender full-height windows, and a wood composite door at the base of the building.
Within the property, TalliTien’s interior design team opted for minimal stylings, clean lines, and sharp corners in each home.
Rendering of a penthouse unit at 66 Clinton Street
Rendering of a model living room at 66 Clinton Street
Rendering of the penthouse kitchen at 66 Clinton Street
Rendering of a model bathroom at 66 Clinton
Custom-crafted kitchens feature open layouts, marble-clad islands, white oak cabinetry, and name-brand appliances. In similar fashion, the living and dining spaces will feature wide-plank flooring, recessed lighting, and modest detailing. The bathrooms will be bathed in pale stone and natural finishes seen in the flooring, counter spaces, drawers, and full-height showers.
Amenities will include a library lounge that leads to an outdoor zen garden, and a fitness center.
Rendering of the communal lounge at 66 Clinton Street
Rendering of the 66 Clinton zen garden
Rendering of the fitness center at 66 Clinton Street
Construction is on track to be completed by fall 2023.
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Nice project. The interior renders are quite elegant and I would be happy to live there!
Steveo
you got the money?
Way to go