First Republic Bank Provides $45M Construction Loan For Upper West Side Development Site At 15-19 West 96th Street

A development site located at 15-19 West 96th Street in the Upper West Side of New York City has recently secured a construction loan. The property, with a buildable square footage (BSF) of 60,334, is owned by Sackman Enterprises.

Summary of transation details

• Property Type: Development Site
• Transaction Date: 09/28/2021
• Address: 15-19 West 96th Street
• Market: Upper West Side
• BSF: 60,334

The lender for this project is First Republic Bank, providing a construction loan of $45,000,000. The loan terms include a 3-year term with a variable interest rate, set at 125 basis points over the Prime rate.

Meridian Capital Group represented the parties involved in the deal. The brokers, Simon Rosenfeld, David Ostrov, Jeff Weinberg, and Garrett Sokoloff, facilitated the transaction on behalf of their clients.