KPG Funds Bags $50 Million Construction Loan From Sabal, GDSNY, Maxim Capital

Excerpt from the Commercial Observer website: Not many boutique offices in SoHo are scoring $50 million construction loans in this market, but 40 Crosby Street just did.

The 70,000-square-foot, five-story KPG Funds-developed building dubbed “The Crosby,” which is aiming to open in the first quarter of 2024, secured financing from Sabal Investment Holdings and GDS Brightstar, the lending arm of GDSNY, Commercial Observer can first report.

Maxim Capital Group was also a lender in the deal, according to a second source.

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