Northwind Group Provides $11 Million Loan For Development Site At 10 West 17th Street
FINANCED
$11,000,000
New York
See Similar DealsDevelopment Site
Financed 07/22/2025
FINANCED
Northwind Group Provides $11 Million Loan For Development Site At 10 West 17th Street
10 West 17th Street
See Similar DealsDevelopment Site
Financed 07/22/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
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.
Players
BROKERAGE
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,000,000.00
Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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