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historic NoMad office building is being converted into luxury condominiums, thanks to a $99 million construction loan secured by Sunlight Development and NuVerse. The loan was provided by BHI, the U.S. division of Bank Hapoalim, with two other financial firms contributing the remaining capital. The 16-story limestone building at 95 Madison Avenue will feature 65 condo units, as well as 17,000 square feet of retail space and 3,400 square feet of office space.

    Demolition has already begun on the site, which was purchased by Sunlight in June for $65 million out of bankruptcy from the Sklar family. The building, known as the Emmet Building, was originally constructed in 1912 as the penthouse home of Thomas Addis Emmet and later designated a landmark in 2018. Half-sisters Rita Sklar and Lois Weinstein had previously battled over ownership of the property before Sklar gained control after Weinstein's death in 2019 and filed for bankruptcy protection two years later.