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10 West 17th Street

Northwind Group Provides $50 Million Construction Loan To Prosper Property Group For Condo In Manhattan
FINANCEDCondo

Northwind Group Provides $50 Million Construction Loan To Prosper Property Group For Condo In Manhattan

10 West 17th Street

$50,000,000

Building Size

Asset Type

Condo

Closing

Mar 27, 2026

AI

The property asset involved in this transaction is a condo located at 10 West 17th Street in the Manhattan market. The loan amount associated with this transaction is $50,000,000, which is specifically labeled as a construction loan.

Summary of transaction details:

The deal prominently features key individuals such as Ran Eliasaf, Michael Ainbinder, Damien Smith, and Eddie Bender, who are associated with this financial transaction, highlighting the collaborative effort that facilitated this construction loan in Manhattan.

Players

Andrew Iadeluca

New Development Capital

Broker

$689.1M

vol

17 deals

Broker
Northwind Group
Northwind GroupLender
Propser Property Group
Propser Property GroupLandlord

New York Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93