Mezzanine Land Financing
Sherwood contributed $16m of mezzanine financing towards the acquisition of 313 Bond Street by Yoel Goldman. The mezzanine loan was coupled with a $30m senior bank loan. Together, the debt package represented approximately 76% of the site’s purchase price. The loan is secured by a 190,000 FAR site on the Gowanus canal that includes environmental contamination. The site is expected to be upzoned.