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2503 Broadway, Manhattan, N...

MSD Partners Provides $63M Loan For Development Site On Upper West Side - Omri Sachs, Dvir Cohen, Michael Dell
FINANCEDDevelopment Site

MSD Partners Provides $63M Loan For Development Site On Upper West Side - Omri Sachs, Dvir Cohen, Michael Dell

2503 Broadway, Manhattan, New York, NY, USA

$63,000,000

$695/SF

Building Size

90,600 SF

Asset Type

Development Site

Closing

Nov 24, 2020

AI

The development site located at 2503-2509 Broadway in the Upper West Side has been involved in a recent transaction. The property, owned by Adam America represented by Omri Sachs and Dvir Cohen, has secured a loan from MSD Partners, headed by Michael Dell. The loan amount for this transaction is $63,000,000, and the property has a buildable square footage of 90,600.

Summary of transaction details:

  • Property Type: Development Site
  • Date: 11/25/2020
  • Address: 2503-2509 Broadway
  • Market: Upper West Side
  • Loan Amount: $63,000,000
  • Buildable Square Footage: 90,600
  • Lender: MSD Partners - Michael Dell
  • Landlord: Adam America - Omri Sachs & Dvir Cohen

Omri Sachs and Dvir Cohen, representing Adam America, and Michael Dell of MSD Partners are the key individuals and companies involved in this transaction. The loan from MSD Partners provides the necessary financial support for the development site at 2503-2509 Broadway in the Upper West Side. The transaction was completed on 11/25/2020, enabling further progress in the development of the property.

Players

MSD Partners
MSD PartnersLender

Adam America

Northlink Capital

Landlord

$289.6M

vol

12 deals

Landlord

New York Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.25%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93