Wrightwood closes two deals for new condominium developments.

Wrightwood Capital has provided $15,000,000 to finance the construction of a condominium building in New York, New York.

Located at 1055 Park Avenue, the property is a condominium development project with more than 16,000 s/f. The Sponsor plans to construct a twelve-story building with

"Located among the most prestigious addresses in Manhattan, the property is attractive to buyers looking to purchase a home without having to go through the lengthy co-op process," commented Dan Hartman, senior director, Investments, in Wrightwood Capital's Norwalk office.

The Sponsor, Davis Development Holdings, LLC, is a multifamily real estate developer in New York, with an expertise in luxury apartment developments. This represents the first transaction between Wrightwood Capital and the Sponsor.

The opportunity was sourced through Sam Spinner and Laurie Shapiro of Meridian Capital's New York office. Wrightwood Capital structured a 30 month loan.

Wrightwood also provided $14,500,000 to finance the construction of a seven story, multi-family building with 38 units and more than 33,000 s/f at 70 Berry Street in Brooklyn.

The Sponsor, Essex Capital Partners, is a fully integrated real estate investment and development company.

This represents the first transaction between Wrightwood Capital and the Sponsor.

The opportunity was sourced through Henry Berliss of Winter and Company. Wrightwood Capital structured a 30 month loan.