Merchants Capital has closed a $237 million short-term loan for the Park Hill Apartments complex in Staten Island, providing crucial financing for one of New York's largest affordable housing developments as it prepares for a comprehensive rehabilitation.
Merchants Capital closes $237 million bridge loan for Staten Island affordable housing
Park Hill complex is slated for rehabilitation
CoStar News
July 31, 2025 | 8:05 P.M.
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IN THIS ARTICLE
- Properties
- Park Hill I Apartments
140 Park Hill Ave, Staten Island, NY
- Park Hill II Apartments
240 Park Hill Ave, Staten Island, NY
- St George Plaza
185 Park Hill Ave, Staten Island, NY
- Companies
- Delshah Capital LLC
Real Estate