Pacific Western Bank Provides $118.2M Refinance Loan For Development Site In Yorkville, Manhattan
FINANCED
$118,195,000
New York
See Similar DealsDevelopment Site
Financed 10/27/2022
FINANCED
Pacific Western Bank Provides $118.2M Refinance Loan For Development Site In Yorkville, Manhattan
1524 1st Avenue, New York City, New York 10075, United States
See Similar DealsDevelopment Site
Financed 10/27/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
A development site located at 1524 First Avenue in Yorkville, Manhattan, has undergone a refinancing transaction. The property, managed by Extell Development and represented by Marc Kwestel, was involved in the deal.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $118,195,000
- Lender: Pacific Western Bank - Kevin Rees
- Landlord: Extell Development - Marc Kwestel
The refinancing loan, provided by Pacific Western Bank and represented by Kevin Rees, amounted to $118,195,000. This transaction brings financial stability and flexibility to the development site, allowing for continued progress and growth.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$118,195,000.00
Monthly NOI$787,966.67
Monthly Debt Service$747,072.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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