Ted Sidel and Brian Sheehan of EagleBridge Capital have arranged construction financing in the amount of $40.58 million for the Residences at Point Breeze, a luxury condominium hotel.
Working exclusively on behalf of the developer, EagleBridge Capital arranged the financing with a major commercial bank
The Point Breeze, located at 77 Easton St., will contain a mix of 32 one and two bedroom condominium residences and 6 cottages with floor plans up to 2,176 s/f. Prices will include membership in the Club at Point Breeze. The Club will provided world class amenities including full concierge services, a spa, fitness center, restaurant, cabaret, swimming pool, tennis courts, screening room, cigar room, and wine tasting room. The grounds will feature a meditation garden and a nature walk.
The project, now under construction, centers on the total reconstruction of the former Point Breeze Hotel located within easy walking distance of the cobblestone streets of the town. The building exterior will be of traditional Nantucket shingle construction. The residence interiors will feature luxury finishes of the highest quality.
Sheehan said, "The condo hotel concept combines the best of both world's. Point Breeze will operate as a luxury hotel, but the suites will be individually owned. Owners will decide when they will occupy their units and when their suites will be available for occupancy by visitors."