Bank OZK Provides $66M Construction Loan For West Village Residential Condo
540 Hudson Street, New York City, New York 10014, United States
$66,000,000
$1,359/SF
Building Size
48,535 SF
Asset Type
—
Closing
Jan 13, 2022
About this deal
AI
Located in the West Village, the residential condo at 540 Hudson Street and 144-150 Barrow Street was recently involved in a closed property transaction. Spanning over 48,535 square feet, this property is part of the vibrant West Village market.
Summary of Transation Details:
- Property Type: Residential Condo
- Transaction Amount: $66,000,000
- Loan Type: Construction
- Loan Terms: 4-year, floating-rate
The loan for this transaction was provided by Bank OZK. Serving as the landlord in this deal was William Gottlieb Real Estate. The brokers involved in this transaction were Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz, and Sean Bastian, representing Walker & Dunlop.
On the Map
$66,000,000
$1,359/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93