May 7, 2026

May 7, 2026

Castellan Capital Provides $28M Construction Loan for Kips Bay Condos

Castellan Capital Provides $28M Construction Loan for Kips Bay Condos

Developer Daniel Klaynberg has landed $28 million of construction financing to build a condominium tower in Manhattan’s Kips Bay neighborhood, Commercial Observer has learned.

Castellan Capital supplied the two-year loan with a one-year extension option for Klaynberg’s planned 12-story, 43-unit building at 129 East 28th Street, which was initially envisioned for rental apartments before switching to condos. Klayn

Tall modern skyscraper with vertical lines, viewed against a clear blue sky.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.