G4 Capital Partners Provides $7.5M Loan For Development Site At 120 Lexington Ave In NoMad
120 Lexington Ave, Manhattan, New York, NY, USA
$7,500,000
$198/SF
Building Size
37,862 SF
Asset Type
Development Site
Closing
Sep 28, 2020
AI
Loan agreement was secured for a development site located at 120 Lexington Ave in the NoMad market. The property, which is a development site, has an estimated buildable square footage (BSF) of 37,862. The loan was provided by G4 Capital Partners for an amount of $7,500,000.
Summary of transaction details:
- Property Type: Development site
- Transaction Amount: $7,500,000
- Address: 120 Lexington Ave
- Market: NoMad
- BSF: 37,862
Jonathan Loloi and Richard Nassimi, from The Nassimi Group, served as the brokers for the deal. The landlord, Skyland Group, secured the loan from G4 Capital Partners.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93