Northwind Provides $50M Construction Loan to Prosper

Northwind Group provided a $50 million construction loan to Prosper Property Group for 10 West 17th Street, an 18-story luxury residential condominium in Manhattan’s Flatiron District. The financing will support Prosper’s new boutique condo delivering 34 luxury rental units to the city.

Northwind funded the debt out of its Northwind Debt Fund III. The financing was arranged by Andrew Iadeluca of New Development Capital. The article also notes Northwind previously made an $11 million acquisition loan to Prosper in 2025.