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Maxim Capital Provides $35M Completion & Condo-Inventory Loan For Residential Condominium In Chelsea, NYC

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FINANCED
$35,000,000
Lauren Kaufman
Gideon Gil
Dale Braverman
+ 1

New York

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Condo33,550 SF
Financed 01/05/2023
the dealplayerscompscontact
Property Image
FINANCED

Maxim Capital Provides $35M Completion & Condo-Inventory Loan For Residential Condominium In Chelsea, NYC

251 West 14th Street

See Similar Deals
Condo33,550 SF
Financed 01/05/2023
Lauren Kaufman
Gideon Gil
Dale Braverman
+ 1
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Condo
Price Per Square Foot:$1,043
Total Square Footage:33,550 SF
Transaction Type:Loan

Located at 251 West 14th Street in Chelsea, New York City, The Elisa is a residential condominium consisting of 25 units spanning over 33,550 square feet. The transaction took place on 01/05/2023.

Summary of transaction details:

The lenders for this transaction were Maxim Capital, with Jason Bordenick and Adam Glick handling the deal. Fine Properties New York (FPNY) acted as the landlord. The brokers involved in the transaction were Lauren Kaufman, Gideon Gil, Dale Braverman, and Cecelia Galligan, representing Cushman & Wakefield.

Players

Lauren Kaufman
JLL
Lauren Kaufman
35 deals$5.4B volume(312) 470-1800
BROKER
Gideon Gil
Cushman & Wakefield
Gideon Gil
48 deals$11.1B volume
BROKER
Dale Braverman
Cushman & Wakefield
Dale Braverman
6 deals$385.5M volume
BROKER
Cecelia Galligan
Cushman & Wakefield
Cecelia Galligan
6 deals$1.9B volume
BROKER
Maxim Capital Group
Maxim Capital Group
LENDER

Details

FINANCED
IMAGE: Adam Glick, Jason Bordenick, Gideon Gil, Lauren Kaufman, Dale Braverman & Cecelia Galligan DATE: 01/05/2023 ADDRESS: 251 West 14th Street - The Elisa MARKET: Chelsea, New York City ASSET TYPE: Residential Condominium ~ SF: 33,550 ~ UNITS: 25 LENDER: Maxim Capital (@MaximCapitalGroup) - Jason Bordenick & Adam Glick (@AdamGlick_) LANDLORD: Fine Properties New York (FPNY) BROKERS: Lauren Kaufman, Gideon Gil, Dale Braverman & Cecelia Galligan - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $35,000,000 LOAN TYPE: Completion & Condo-Inventory

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$35,000,000.00

Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00