Updated Mar 11, 2025
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
$70,000,000
$1,076/SF
Building Size
65,000 SF
Asset Type
Development Site
Closing
Jun 2, 2022
About this deal
AI
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.
On the Map
$70,000,000
$1,076/SF
Development Site
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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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93