Northwind, BHI Fund $170M UWS Condo Project

Author

Slice of Construction Team
April 03, 2025

Key Highlights:

  • $170 million construction loan for Upper West Side condo development

  • 36-unit boutique luxury project led by Nortco Development

  • Funded via Northwind Debt Fund III, launched January 2025

  • Designed by a globally renowned architect with large-format units

  • Fulfills market demand for family-sized residences in boutique buildings

Source: PR Newswire

Notable Quotes:

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"We are pleased to fund this loan for Nortco... This loan demonstrates our strong commitment to financing premier condominium developments in New York City."

Ran Eliasaf, Founder and Managing Partner at Northwind Group
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"Their relationship-driven approach, quick execution and deep understanding of the market enable us as developers to seize opportunities..."

Haim Nortman, Founder at Nortco Development
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"We're excited to work with Haim and Rony Nortman of Nortco, and to partner with Northwind to introduce new compelling inventory to this market."

Ilana Druyan, SVP – Team Leader and Head of International Origination – CRE at BHI

Why This Matters:

This major financing reflects the continuing strength of the Manhattan luxury residential market, particularly in the Upper West Side where demand for spacious, high-end condominium units remains robust. Northwind Group's latest fund, NDF III, shows momentum in real estate credit investments, while the collaboration with Nortco and BHI underscores a broader trend of relationship-driven financing for transformative urban developments.