Arden Group Acquires Development Site In Inwood For $44M With Lending From SCALE Lending
4650 Broadway, New York, NY 10040, USA
$44,000,000
$929/SF
Building Size
47,350 SF
Asset Type
Development Site
Closing
Apr 17, 2023
AI
The development site located at 4650 Broadway in Inwood has been involved in a closed property transaction. The asset, measuring 47,350 square feet, was the subject of the deal.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $44,000,000
- Address: 4650 Broadway
- Market: Inwood
The lender in this transaction was SCALE Lending, while the landlord was Arden Group. Newmark Knight Frank (NKF), represented by Dustin Stolly, Jordan Roeschlaub, Nick Scribani, Chris Kramer, Seth Hall, and Ryan Flannery, acted as the brokers in the deal.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93