D
an Brodsky's company, along with Sorgente Group and GFP Real Estate, has secured a $357 million construction loan to convert the iconic Flatiron Building into 60 residential condos. Tyko Capital provided the debt for the project, which is expected to preserve this New York City landmark. The loan was arranged by a team from Newmark led by Jordan Roeschlaub and Nick Scribani.

    Brodsky acquired a 25% stake in the Flatiron Building last year for $40 million, ending a period of limbo caused by disagreements among its owners over how to manage the aging building. This deal marks another significant milestone in Brodsky's efforts to restore the Flatiron Building.

    Tyko Capital has recently backed several major projects, including Gary Barnett's $160 million purchase of 655 Madison Avenue and a $1 billion refinancing of Steve Witkoff and Len Blavatnik's One High Line condo project.