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
About this deal
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:
- Property Type: Condo
- Transaction Amount: $50,000,000
- Lender: Northwind Group
- Landlord: Propser Property Group
- Landlord's Representative: Andrew Iadeluca - New Development Capital
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.
On the Map
$50,000,000
Condo
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Players
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