G4 Capital Partners Provides $165 Million Construction Loan For Development Site In New York City
259 East 71st Street
$165,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 6, 2025
AI
The asset involved in this transaction is a development site located at 259 East 71st Street in New York City. The loan amount secured for this project is $165,000,000.00 and it is categorized as a construction loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $165,000,000.00
- Market: New York City
- Lender: G4 Capital Partners
- Landlord: Rabsky Group and Chetrit Group
- Loan Type: Construction
This transaction involves G4 Capital Partners as the lender providing the capital for the construction project, while Rabsky Group and Chetrit Group are identified as the landlords involved in the deal.
Players
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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93