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GFP Properties, Rockwood & Metroloft Secure $500M Construction Loan For 25 Water Street Multifamily In Manhattan

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FINANCED
$500,000,000
Brett Siegel
Dustin Stolly
Evan Layne
+ 1

Maine

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MultiFamily1,100,000 SF
Financed 03/11/2022
the dealplayerscompscontact
Property Image
FINANCED

GFP Properties, Rockwood & Metroloft Secure $500M Construction Loan For 25 Water Street Multifamily In Manhattan

25 Water Street

See Similar Deals
MultiFamily1,100,000 SF
Financed 03/11/2022
Brett Siegel
Dustin Stolly
Evan Layne
+ 1
the dealplayerscompscontact
Contact now

Summary

MAINE
Asset Type:MultiFamily
Price Per Square Foot:$454
Total Square Footage:1,100,000 SF
Transaction Type:Loan

The property involved in this transaction is a multifamily asset located at 25 Water Street in Manhattan. It has a total square footage of approximately 1,100,000 and comprises 1,200 units. The landlords of the property are GFP Properties, Rockwood, and Metroloft.

Summary of transaction details

The loan for this transaction, valuing $500,000,000, was provided by MSD Capital. The loan type is specified as construction. The deal was facilitated by brokers Brett Siegel, Evan Layne, Dustin Stolly & Jordan Roeschlaub from Newmark.

Players

Brett Siegel
Newmark
Brett Siegel
75 deals$6.4B volume(212) 372-0798
BROKER
Dustin Stolly
Walker & Dunlop
Dustin Stolly
264 deals$49.1B volume
BROKER
Evan Layne
Newmark
Evan Layne
33 deals$4.5B volume(212) 372-2390
BROKER
Jordan (Jordy) Roeschlaub
Newmark
Jordan Roeschlaub
321 deals$96.2B volume
BROKER
Apollo Bank
Apollo Bank
LENDER
M
Metroloft
LANDLORD

Details

FINANCED
IMAGE: Evan Layne, Brett Siegel, Jordan Roeschlaub, Dustin Stolly & Michael Dell DATE: 11/03/2022 ADDRESS: 25 Water Street MARKET: Manhattan ASSET TYPE: Multifamily ~ SF: 1,100,000 ~ UNITS: 1,200 LENDER: MSD Capital (@MSDCapital) LANDLORD: GFP Properties (@GFPRealEstate), Rockwood & Metroloft BROKERS: Brett Siegel (@BSieges), Evan Layne (@EvanLayne), Dustin Stolly & Jordan Roeschlaub (@JordyRoeschlaub) - Newmark (@Newmark) LOAN AMOUNT: $500,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$500,000,000.00

Monthly NOI$3,333,333.33
Monthly Debt Service$3,160,340.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00