Gotham signs $45M construction loan with Wells Fargo for LES dev site

The Gotham Organization through the entity GO Norfolk LLC as borrower signed a new construction loan with lender Wells Fargo valued at $45 million for the development site (V1) at 60 Norfolk Street in Lower East Side, Manhattan.
The deal closed on April 23, 2021 and was recorded on May 14, 2021.

The signatory for Gotham Organization was David L. Picket.
(121207522) Plans for a 116-unit, 89,032 square-foot residential (R-2) building were filed on April 10, 2020.
This is $45 million in new construction financing on top of $9 million from Community Preservation Corp. in an existing land loans.

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