Updated Nov 18, 2025
Bank OZK Provides $98.15M Construction Loan For Upper West Side Development Site
2688 Broadway, New York City, New York 10025, United States
$98,150,000
$1,209/SF
Building Size
81,133 SF
Asset Type
Development Site
Closing
Aug 9, 2022
About this deal
AI
The development site located at 2688 Broadway on the Upper West Side has been involved in a recent closed property transaction. The property is a development site with a buildable square footage (BSF) of 81,133. The transaction took place on 08/10/2022.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $98,150,000
- Address: 2688 Broadway, Upper West Side
- Market: Upper West Side
- BSF: 81,133
Toll Brothers & Sculptor Capital Management, represented by David Von Spreckelsen, served as the landlord for the property. The lender for this transaction was Bank OZK, providing a construction loan in the amount of $98,150,000.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93