BHI Provides $60 Million Financing for Tishman Realty Acquisition of 70 Units in Charlie West Condominium

BHI, a full-service commercial bank, announced that it has provided $60 million in financing for the bulk acquisition of 70 residential condominium units in the Charlie West building, located at 505 W. 43rd Street in Manhattan’s Hell’s Kitchen neighborhood.  The borrower is a joint venture of Tishman Realty & Construction and PIMCO, which is acquiring the units, totaling 76,897 square feet, from Charlie West developer the Elad Group. 

Completed in 2019, Charlie West rises 16 stories and has 123 units.  Apartment interiors feature open living rooms, floor to ceiling windows, wide-plank oak wood floors, marble en-suite bathrooms and stainless steel appliances.  The building offers a full complement of amenities, including an indoor/outdoor pool, rooftop terrace, fitness center, library, residents’ lounge, children’s playroom and bike storage.  BHI had provided construction financing for the project.

“BHI’s highly knowledgeable real estate team is very familiar with Charlie West and has become a strong partner with us. They have demonstrated solid support of our marketing plans for these appealing residences,” said Obaid Khan, CFO of Tishman Realty.

“We are pleased to welcome Tishman Realty as a new client and look forward to a productive collaboration.  Charlie West is an extremely desirable building at affordable luxury price points, with a Midtown West location that continues to be one of the city’s fastest-growing areas,” said Ilana Druyan, BHI First Vice President and Head of International Originations Real Estate.

About BHI (www.bhiusa.com)

BHI, the U.S division of Bank Hapoalim, Israel's leading financial institution, provides commercial banking solutions to middle market clients in sectors including commercial real estate, C&I, food and beverage, entertainment, apparel, healthcare and high-tech.  In addition to its New York headquarters, the bank operates U.S. Representative Offices in Woodcliff Lake, New Jersey; Miami, Florida; and Los Angeles, California.