Delshah Capital Secures $180M Loan For Development Site On Morningside Drive
FINANCED
$180,000,000
New York
See Similar DealsDevelopment Site265,216 SF
Financed 01/04/2021
FINANCED
Delshah Capital Secures $180M Loan For Development Site On Morningside Drive
30 Morningside Drive, Manhattan, New York, NY, USA
See Similar DealsDevelopment Site265,216 SF
Financed 01/04/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$678
Total Square Footage:265,216 SF
Transaction Type:Loan
A $180 million loan was secured for a development site located at 30 Morningside Drive in Morningside Heights. The property, which consists of 205 units, was financed by Arbor Realty Trust, with Alexander Kaushansky representing the lender. The landlord of the site is Delshah Capital, with Michael Shah as the representative.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $180,000,000
- Address: 30 Morningside Drive
- Market: Morningside Heights
The loan provided by Arbor Realty Trust, led by Alexander Kaushansky, allows for the development of the site on 30 Morningside Drive. Delshah Capital, represented by Michael Shah, serves as the landlord for this project.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$180,000,000.00
Monthly NOI$1,200,000.00
Monthly Debt Service$1,137,722.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions