In addition, the bank will provide $36 million in mezzanine financing, bringing the total funding for the project to $203 million. The project will include 176 apartments, 44 of which will be designated as affordable housing.
Yellowstone has additional projects in Manhattan, including on Broadway, Lexington Avenue and 57th Street. The group’s US activity is carried out in partnership with Israeli and international institutional investors. The operations are managed by CEO Tzachi Hara, while Bank Hapoalim USA is led by Gil Karni.