LargaVista Companies and Baron Property Group (BPG) have completed the lease-up of all 92 market-rate rentals at The Park Overture at 4568 Broadway in Northern Manhattan’s Washington Heights neighborhood. In conjunction with the lease-up, completed in less than one year, BPG and LargaVista have also secured a $43.5-million bridge loan from MF1 Capital to retire the property’s original construction financing provided by Kriss Capital.
The financing and leasing milestones coincide with the first move-ins for The Park Overture’s collection of affordable residences. JLL Capital Markets arranged the financing, and M.N.S Real Estate handled leasing.
“The success of The Park Overture, leasing all residences in less than a year, is a testament to the strength of New York’s rental market and the demand for thoughtfully designed, quality homes,” said Matthew Baron, president and founder of BPG. “Our vision for The Park Overture, which offers modern, sustainability-oriented residences paired with curated amenities in the heart of one of the city’s most vibrant neighborhoods, has resonated with renters seeking both lifestyle and location.”
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