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

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FINANCED
$63,000,000

New York

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Development Site90,600 SF
Financed 11/25/2020
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Property Image
FINANCED

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

See Similar Deals
Development Site90,600 SF
Financed 11/25/2020
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$695
Total Square Footage:90,600 SF
Transaction Type:Loan

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

LENDER

AA
12 deals$289.6M volume
LANDLORD

12 deals$289.6M volume
LANDLORD

12 deals$289.6M volume
LANDLORD

12 deals$289.6M volume
LANDLORD

12 deals$289.6M volume
LANDLORD

Omri Sachs
5 deals$149.6M volume
LANDLORD

Omri Sachs
5 deals$149.6M volume
LANDLORD

Details

FINANCED
IMAGE: Omri Sachs, Michael Dell & Dvir Cohen DATE: 11/25/2020 ADDRESS: 2503-2509 Broadway MARKET: Upper West Side ASSET TYPE: Development Site LENDER: MSD Partners - Michael Dell LANDLORD: Adam America - Omri Sachs & Dvir Cohen LOAN AMOUNT: $63,000,000 BSF: 90,600

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$63,000,000.00

Monthly NOI$420,000.00
Monthly Debt Service$398,202.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00