Updated Mar 17, 2025
Moinian Group Refinances Development Site In Financial District With MSD Partners For $58M
102 John Street, New York City, New York 10038, United States
$58,000,000
$4,067/SF
Building Size
14,258 SF
Asset Type
Development Site
Closing
Apr 26, 2022
About this deal
AI
The Moinian Group, a prominent real estate development company, has recently secured a refinancing loan for their development site located at 102-110 John Street in the Financial District. The loan, amounting to $58,000,000, was provided by MSD Partners, a renowned lender in the industry. This prime development site boasts a building square footage (BSF) of 14,258 and is zoned for the construction of 250 residential units.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $58,000,000
- Address: 102-110 John Street
- Market: Financial District
- Asset Type: Development Site
- BSF: 14,258
- Units: 250
This loan transaction was facilitated by Joseph Moinian and Gregg Lemkau, whose expertise and negotiation skills played a vital role in closing this deal. The Moinian Group, led by Joseph Moinian himself, is the landlord of this prime development site. MSD Partners, on the other hand, acted as the lender. This successful refinancing deal highlights the Moinian Group's commitment to financing their ongoing development projects in the Financial District.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93