Parkview Financial Provides $70M Construction Loan For Development Site On St. Marks Pl. In Midtown South - Real Estate Equities Corp
FINANCED
New York
See Similar DealsDevelopment Site65,000 SF
Financed 06/03/2022
FINANCED
Parkview Financial Provides $70M Construction Loan For Development Site On St. Marks Pl. In Midtown South - Real Estate Equities Corp
3 Saint Mark's Place, New York City, New York 10003, United States
See Similar DealsDevelopment Site65,000 SF
Financed 06/03/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,076
Total Square Footage:65,000 SF
Transaction Type:Loan
The development site located at 3 St. Marks Pl. in Midtown South has recently been involved in a closed transaction. The property is a development site with a buildable square footage (BSF) of 65,000. The deal involved a construction loan from Parkview Financial.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $70,000,000
- Address: 3 St. Marks Pl.
- Market: Midtown South
- BSF: 65,000
The lender for this transaction was Parkview Financial, providing a construction loan of $70,000,000. The landlord involved in the deal is Real Estate Equities Corp., represented by Brandon Miller, Ted Robottom, Brad Ross, and Brandon Klein.
Players
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,000,000.00
Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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