{"id":318851,"date":"2026-08-11T18:48:17","date_gmt":"2026-08-11T18:48:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/318851\/"},"modified":"2026-08-11T18:48:17","modified_gmt":"2026-08-11T18:48:17","slug":"cohen-of-leviathan-capital-arranges-16-2-million-construction-loan-for-20-unit-condo-nyrej","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/318851\/","title":{"rendered":"Cohen of Leviathan Capital arranges $16.2 million construction loan for 20-unit condo : NYREJ"},"content":{"rendered":"<p>                    <img loading=\"lazy\" decoding=\"async\" alt=\"\" height=\"225\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/08\/Cohen_Peter-Re_fined.jpg\" width=\"180\"\/>&#13;<br \/>\nPeter Cohen&#13;<\/p>\n<p>Brooklyn, NY Peter Cohen of <a class=\"connect_link\" href=\"https:\/\/nyrej.com\/directory\/leviathan\" rel=\"nofollow noopener\" target=\"_blank\">Leviathan<\/a> Capital arranged a $16.2 million construction loan for a 20-unit condominium development in Greenpoint.<\/p>\n<p>The financing was structured with a 7.75% interest rate (7.25% floor), 24-month term, no prepayment penalty, and an origination fee under 1%.<\/p>\n<p>This transaction was notably complex due to the site\u2019s enrollment in the New York State Brownfield Cleanup Program (BCP). The sponsor is actively executing a Remedial Action Work Plan under NYS DEC oversight to address historical site contamination while advancing construction.<\/p>\n<p>Navigating lender comfort around environmental remediation alongside municipal construction requirements required careful structuring.<\/p>\n<p>Cohen also structured pre-funded deposits to facilitate early procurement of critical hard-cost materials, supporting post-closing construction progress and execution certainty.<\/p>\n<p>This transaction highlights <a class=\"connect_link\" href=\"https:\/\/nyrej.com\/directory\/leviathan\" rel=\"nofollow noopener\" target=\"_blank\">Leviathan<\/a> Capital\u2019s ability to deliver tailored financing solutions and serve as a strategic resource for complex development projects.<\/p>\n","protected":false},"excerpt":{"rendered":"&#13; Peter Cohen&#13; Brooklyn, NY Peter Cohen of Leviathan Capital arranged a $16.2 million construction loan for a&hellip;\n","protected":false},"author":2,"featured_media":318852,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[9,11,10],"class_list":["post-318851","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-new-york","tag-new-york-headlines","tag-new-york-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/318851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=318851"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/318851\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/318852"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=318851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=318851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=318851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}