Flag Luxury Group Secures $250M Construction Financing For NoMad Hotel/Dev Site

1185 Broadway, New York, NY 10001, USA

$250,000,000

$1,520/SF

Building Size

164,400 SF

Asset Type

Development Site

Closing

Jul 19, 2018

AI

The property involved in the transaction is located at 1185 Broadway and 29 West 28th Street in the NoMad neighborhood of New York City. The property is a hotel and development site with a total square footage of 164,400. The deal type for this transaction is construction financing, and the loan amount is $250,000,000.

Summary of transaction details:

Property Type: Hotel / Dev Site
Transaction Amount: $250,000,000
Square Footage: 164,400
Market: NoMad
City: New York City

Atalaya Capital’s Capital Source serves as the lender for this transaction. The landlord and developer involved in the deal is Paul Kanavos' Flag Luxury Group.

Players