facebook
Traded Co logo
Submit

Fort Amsterdam Capital Provides $11.05M Bridge Loan For Development Site On Lexington Avenue

Property Image
FINANCED
$11,050,000

New York

See Similar Deals
Development Site59,448 SF
Financed 03/11/2022
the dealplayerscompscontact
Property Image
FINANCED

Fort Amsterdam Capital Provides $11.05M Bridge Loan For Development Site On Lexington Avenue

150 Lexington Avenue, New York City, New York 10016, United States

See Similar Deals
Development Site59,448 SF
Financed 03/11/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$185
Total Square Footage:59,448 SF
Transaction Type:Loan

The property involved in this transaction is a development site located at 150 Lexington Avenue in the NoMad market. The site has a total square footage of 59,448 and is owned by Evenhar Development. The transaction took place on 03/11/2022.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $11,050,000
  • Address: 150 Lexington Avenue
  • Market: NoMad
  • Lender: Fort Amsterdam Capital - David Schwartz & Evan O'Connor
  • Landlord: Evenhar Development
  • Broker: Ross Cumming - Ackman Ziff
  • Loan Type: Bridge Loan

The lender for this transaction is Fort Amsterdam Capital, represented by David Schwartz and Evan O'Connor. The loan amount provided was $11,050,000, and it is a bridge loan. The collateral for the loan consists of the fee simple interests in 154 Lexington Avenue and 130 East 30th Street, as well as the leasehold interests in 150 Lexington Avenue and 154 Lexington Avenue.

Players

Ross Cumming
Ackman-Ziff
Ross Cumming
6 deals$256.9M volume
BROKER
Fort Amsterdam Capital
Fort Amsterdam Capital
LENDER
ED
Evenhar Development
LANDLORD

Details

FINANCED
IMAGE: Evan O'Connor, David Schwartz & Ross Cumming DATE: 03/11/2022 ADDRESS: 150 Lexington Avenue MARKET: NoMad ASSET TYPE: Development Site ~ SF: 59,448 LENDER: Fort Amsterdam Capital - David Schwartz & Evan O'Connor LANDLORD: Evenhar Development BROKER: Ross Cumming - Ackman Ziff LOAN AMOUNT: $11,050,000 LOAN TYPE: Bridge Loan NOTE FROM LENDER: The loan is collateralized by an assemblage comprised of the fee simple interests in 154 Lexington Avenue & 130 East 30th Street & the leasehold interests in 150 Lexington Avenue & 154 Lexington Avenue.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,050,000.00

Monthly NOI$73,666.67
Monthly Debt Service$69,843.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00