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Man Global Private Markets Provides $62M Loan For Condo In NoMad

Property Image
FINANCED
$62,000,000

New York

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20,065 SF
Financed 12/24/2019
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Property Image
FINANCED

Man Global Private Markets Provides $62M Loan For Condo In NoMad

30 East 31st Street, New York, NY, USA

See Similar Deals
20,065 SF
Financed 12/24/2019
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Summary

NEW YORK
Price Per Square Foot:$3,090
Total Square Footage:20,065 SF
Transaction Type:Loan

The condominium located at 30 East 31st Street in the NoMad neighborhood has been involved in a recent closed transaction. The property is a condo unit with a total of 42 units. The deal involved a loan amount of $62,000,000. The lender in this transaction was Man Global Private Markets. The landlords of the property include Ekstein Development, DeMatteis Organization, and Pinnacle Group. The deal was facilitated by brokers Max Herzog, Marko Kazanjian, and Matt Fagella.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $62,000,000
  • Address: 30 East 31st Street
  • Market: NoMad

This transaction showcases the collaboration between various parties in the real estate industry. The lenders, Man Global Private Markets, provided the substantial loan amount for the deal to proceed. The landlords involved in this transaction are Ekstein Development, DeMatteis Organization, and Pinnacle Group. Additionally, the brokers Max Herzog, Marko Kazanjian, and Matt Fagella played a crucial role in facilitating this closed transaction.

Players

Marko Kazanjian
71 deals$5.4B volume
BROKER

Matt Fagella
JLL
11 deals$525.5M volume
BROKER

Max Herzog
Institutional Property Advisors
80 deals$5.4B volume(212) 430-5165
BROKER

Man Global Private Markets
LENDER


Details

FINANCED
IMAGE: Marko Kazanjian, Erik Ekstein, Max Herzog, Raymond Savino, Matt Fagella DATE: 12/24/2019 ADDRESS: 30 East 31st Street MARKET: NoMad ASSET TYPE: Condo LENDER: Man Global Private Markets LANDLORD: Ekstein Development, DeMatteis Organization, Pinnacle Group BROKER: Max Herzog, Marko Kazanjian, Matt Fagella LOAN AMOUNT: $62,000,000 UNITS: 42

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$62,000,000.00

Monthly NOI$413,333.33
Monthly Debt Service$391,882.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00