3880 Ninth Avenue
Developer Lands $92M Loan for Inwood Multifamily Project
Brooklyn-based developer, , has secured a $92 million loan for a 17-story, mixed-use project, set to rise at 3880 Ninth Avenue (alternately addressed as 401 West 207th Street) in Manhattan's Inwood neighborhood. Issued by BHI, this influx of capital will be used to fund construction costs from the group up.
The building will contain apartment units, and square feet of retail space, located on the ground floor. Plans also call for a cellar level, and an enclosed parking garage, with enough room for vehicles.
The site spans square feet and was previously occupied by a Speedway-branded gas station. The property was purchased for $25 million back in March of 2022, and the station has already been demolished ahead of the start of construction.