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OZK Bank Grants $170M Construction Loan To MRR Development For Billionaire Row Development Site

Property Image
FINANCED
Rotem Rosen
Anand Mahindra
ZH

New York

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Development Site180,000 SF
Financed 12/02/2022
the dealplayerscompscontact
Property Image
FINANCED

OZK Bank Grants $170M Construction Loan To MRR Development For Billionaire Row Development Site

126 E 57th St, New York, NY 10022, USA

See Similar Deals
Development Site180,000 SF
Financed 12/02/2022
Rotem Rosen
Anand Mahindra
ZH
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$0
Total Square Footage:180,000 SF
Transaction Type:Loan

An 180,000 square foot development site located at 126 E 57th Street in Billionaire Row has been involved in a recent loan transaction.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $170,000,000
  • Lender: OZK Bank
  • Landlord: MRR Development LLC - Anand Mahindra, Rotem Rosen & Zahi Hagag
  • Broker: Akman Ziff
  • Loan Type: Construction

The loan amount for this transaction was $170,000,000 and the loan type was construction. The landlord, MRR Development LLC, represented by Anand Mahindra, Rotem Rosen & Zahi Hagag, secured the loan from OZK Bank. The broker involved in this deal was Akman Ziff.

Note from Landlord: Special thank you to the lawyers that worked on this transaction - MRR lawyers from Fried Frank and OZK Bank lawyers from King & Spalding.

Details

FINANCED
IMAGE: Anand Mahindra, Rotem Rosen & Zahi Hagag DATE: 12/02/2022 ADDRESS: 126 E 57th Street MARKET: Billionaire Row ASSET TYPE: Development Site ~ SF: 180,000 LENDER: OZK Bank LANDLORD: MRR Development LLC - Anand Mahindra, Rotem Rosen & Zahi Hagag BROKER: Akman Ziff LOAN AMOUNT: $170,000,000 LOAN TYPE: Construction NOTE FROM LANDLORD: Special thank you to the lawyers that worked on this transaction: MRR lawyers from Fried Frank OZK Bank lawyers from King & Spalding

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Debt Service Coverage Ratio (DSCR)

0.00x

Max Loan Amount

$0.00

Monthly NOI$0.00
Monthly Debt Service$0.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00