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Brandon Miller And Ted Robottom Of Real Estate Equities Corp Acquire Development Site In Chelsea, New York. Loan Amount $14M

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FINANCED
$14,000,000
Brett Siegel
Evan Layne
MS
+ 1

New York

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Development Site1,000,000 SF
Financed 10/02/2018
the dealplayerscompscontact
Property Image
FINANCED

Brandon Miller And Ted Robottom Of Real Estate Equities Corp Acquire Development Site In Chelsea, New York. Loan Amount $14M

118 10th Ave, New York, NY 10011, USA

See Similar Deals
Development Site1,000,000 SF
Financed 10/02/2018
Brett Siegel
Evan Layne
MS
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$14
Total Square Footage:1,000,000 SF
Transaction Type:Loan

The development site located at 118 10th Avenue in Chelsea, New York has recently undergone a closed property transaction. The property is owned by Real Estate Equities Corp (REEC), represented by Brandon Miller and Mark Seigel. The total loan amount for this transaction is $14 million, provided by ROC Capital, with Arvind Raghunathan as the lender. The loan is structured as a bridge loan with interest-only terms.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $14 million
  • Address: 118 10th Avenue, Chelsea, New York
  • Market: Chelsea, New York
  • Lender: ROC Capital
  • Lender Representative: Arvind Raghunathan
  • Landlord: Real Estate Equities Corp (REEC)
  • Landlord Representatives: Brandon Miller & Mark Seigel

In addition, the deal involves the following individuals: Brandon Miller, Ted Robottom from Real Estate Equities Corp, and Ranajoy Sarkar from ROC Capital. The transaction took place on October 2, 2018.

Players

Brett Siegel
Newmark
Brett Siegel
75 deals$6.4B volume(212) 372-0798
BROKER
Evan Layne
Newmark
Evan Layne
33 deals$4.5B volume(212) 372-2390
BROKER
Roc Capital
Roc Capital
LENDER
MS
Mark A. Seigel
2 deals$74.5M volume
LANDLORD
BM
Brandon Miller
3 deals$94.2M volume
LANDLORD

Details

FINANCED
IMAGE: Brandon Miller, Ted Robottom (Real Estate Equities Corp.), Ranajoy Sarkar (ROC Capital) DATE: 10/02/2018 ADDRESS: 118 10th Avenue @theparknyc MARKET: Chelsea, New York ASSET TYPE: Development Site LENDER: ROC Capital, Arvind Raghunathan LANDLORD: Real Estate Equities Corp (REEC) – Brandon Miller & Mark Seigel LOAN AMOUNT: $14M LOAN TERMS: Bridge Loan – IO SF: […]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$14,000,000.00

Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00