Sunshine Cinema in the Lower East Side will soon be demolished to make room for a nine-story office building. Developers East End Capital and K Property Group have secured some $90 million in financing to fulfill their proposal at 141 East Houston Street. According to Crain’s Business, the development partners obtained a $67 million construction loan from CapitalSource and $19 million of mezzanine financing from Canyon Partners.
East End Capital
Crain’s Business reports that Norman Brodsky is expecting to sell the burned-down warehouse located on Williamsburg’s northern waterfront, at 5 North 11th Street, to a pair of developers. Midtown Equities and East End Capital have reportedly signed a contract to purchase the site, but the exact price has yet to be revealed. The property is currently zoned for commercial and manufacturing use; 600,000 buildable square feet is available as-of-right.