Polsinelli Represents Northwind Group in $50 Million Loan for Manhattan Residential Development

Polsinelli recently represented Northwind Group in connection with providing a $50 million first-mortgage construction loan for the development of 10 West 17th Street, an 18-story residential condominium project located in Manhattan’s Flatiron District.

The financing upsizes a prior $11 million acquisition loan on the property and supports the continued development of the project, which is being led by Prosper Property Group. Once complete, the building is expected to include 34 luxury residential units ranging from one to four bedrooms, along with a range of amenities, with completion anticipated in mid-2027.

More information about this transaction can be found here.

The Polsinelli team was led by Shareholder John Vavas and included Shareholder Monica J Guzikowski. Additional support was provided by Associate Corey R. Rosenholtz.