Updated Jul 8, 2026
FINANCEDDevelopment Site
Northwind Group Provides $11 Million Loan For Development Site At 10 West 17th Street
10 West 17th Street
$11,000,000
Building Size
—
Asset Type
Development Site
Closing
Jul 21, 2025
About this deal
AI
The property involved in this transaction is a development site located at 10 West 17th Street within the Flatiron District. The transaction included a loan amount of $11,000,000 that is classified as an acquisition loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,000,000
- Lender: Northwind Group
- Landlord: Prosper Property Group
- Broker: Andrew Iadeluca - New Development
- Loan Type: Acquisition
- Date of Transaction: 7/22/2025
The key individuals involved in this deal include Ran Eliasaf, Michael Ainbinder, Damien Smith, Eddie Bender, and Andrew Iadeluca. Andrew Iadeluca represents the broker side of the transaction with New Development, facilitating the acquisition loan provided by Northwind Group to the landlord, Prosper Property Group.
On the Map
$11,000,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93