Hospitality

We helped finance the construction of 560,000 square feet of hospitality space in Manhattan and the Bronx.

The hospitality sector is vital to New York City, driving billions of dollars in visitor spending, supporting tens of thousands of jobs, and generating significant tax revenue. Since 2013, we’ve financed the construction of a variety of hospitality projects.

In the Bronx, we financed the construction of a 125-room, seven-story Marriott hotel, one of the first extended stay hotels built in the borough in over a decade. The hotel is providing rooms for those visiting surrounding medical centers like Montefiore Children’s Hospital and Calvary Hospital as well as educational institutions like Fordham University and Albert Einstein College of Medicine.

In Manhattan, we provided a loan for the construction of the twelve-story Edge Hotel, one of the first hotels built in Washington Heights in over twenty years. Capital was also provided for the construction of the Public Hotel in the Lower East Side and the renovation of the Battery Maritime Building, one of New York City’s last remaining historic ferry terminals. An additional loan helped fund the redevelopment of Pier A, a landmark building and the closest site in Manhattan to the Statue of Liberty.