Manhattan, New York: The most beautiful cities Lionheart Strategic Management LLC (Lionheart), a subsidiary of Fisher Brothers that manages capital on behalf of third-party investors, provided a $27.6 million loan to Madison Realty Capital for the new construction of 644 East 14.^th St., a 24-story apartment building in Alphabet City. Construction is also being partially financed by a $102 million senior loan from Apollo Global Management.

“644 East 14^th “St. is uniquely positioned to support the growing Alphabet City community through the development of high-quality residential, retail and community spaces,” said Sebastian Post, managing director and co-head of investments at Lionheart Strategic Management. “We are proud to play a role in financing the project’s development alongside our valued partners and look forward to seeing it become a reality.”

Upon completion, 644 East 14^th St. will feature 196 multifamily units, including 30 affordable apartments, and amenities such as a fitness center, rooftop deck, outdoor grilling area, 2,200 square feet of ground floor retail space and 1,200 square feet of common areas. The project is being developed by Madison Realty Capital, which specializes in real estate investment and development and focuses on opportunistic and value-add strategies in major U.S. markets.

This deal continues the momentum of Lionheart Real Estate Credit Strategies II, the current product of Lionheart Strategic Management. Since its inception, Lionheart has managed over $2 billion of investor commitments across various real estate credit strategies in major markets globally and has deployed over $1 billion of capital throughout the company’s history.

Post led the transaction for Lionheart along with Jake Misisco and Benjamin Eshiwani.

Rendering credits: Fischer + Makooi Architects.

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