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Maverick Real Estate Partners Secures $107.1M Construction Loan From Related Companies For Hotel Development

Property Image
FINANCED
$107,100,000

New York

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Development Site157,517 SF
Financed 04/07/2025
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Property Image
FINANCED

Maverick Real Estate Partners Secures $107.1M Construction Loan From Related Companies For Hotel Development

255 West 34th Street

See Similar Deals
Development Site157,517 SF
Financed 04/07/2025
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$679
Total Square Footage:157,517 SF
Transaction Type:Loan

The property asset involved in this transaction is a development site located at 255 West 34th Street in Manhattan’s Garment District. The site covers a total square footage of 157,517 and is intended for hotel development.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $107,100,000
  • Lender: Jeff T. Blau - Related Companies
  • Landlord: David Aviram - Maverick Real Estate Partners
  • Loan Type: Construction

The deal features Maverick Real Estate Partners securing a construction loan from Related Companies, highlighting the collaboration between these prominent figures in the real estate sector. Jeff T. Blau represents Related Companies while David Aviram represents Maverick Real Estate Partners, emphasizing the roles they play in this significant transaction.

Players

JB
Related Companies
Jeff T. Blau
15 deals$1.3B volume
LENDER
Related Companies
Related Companies
LENDER

Details

FINANCED
IMAGE: David Aviram & Jeff T. Blau DATE: 04/07/2025 ADDRESS: 255 West 34th Street MARKET: Garment District ASSET TYPE: Development Site ~ SF: 157,517 LENDER: Jeff T. Blau - Related Companies (@RelatedCos) LANDLORD: David Aviram - Maverick Real Estate Partners LOAN AMOUNT: $107,100,000 LOAN TYPE: Construction NOTE: Maverick Real Estate Partners secured a $107.1M construction loan from Related Companies for the hotel development at 255 West 34th Street in Manhattan’s Garment District.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$107,100,000.00

Monthly NOI$714,000.00
Monthly Debt Service$676,944.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00