Goldman Sachs Bank USA Provides $58M Loan For Development Site In Garment District
FINANCED
$58,000,000
New York
See Similar DealsDevelopment Site7,428 SF
Financed 07/24/2020
FINANCED
Goldman Sachs Bank USA Provides $58M Loan For Development Site In Garment District
30 W 39th St, New York, NY 10018, USA
See Similar DealsDevelopment Site7,428 SF
Financed 07/24/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$7,808
Total Square Footage:7,428 SF
Transaction Type:Loan
A development site located at 30 West 39th Street in the Garment District has been involved in a recent transaction. The property, situated on a lot measuring 25 ft x 98.75 ft, was part of a loan agreement. The loan was provided by Goldman Sachs Bank USA, with a total loan amount of $58,000,000. The site is zoned as C6-4, with a maximum floor area ratio (FAR) of 10.
Summary of Transaction Details
- Property Type: Development site
- Transaction Amount: $58,000,000
- Zoning: C6-4
- Lot Dimensions: 25 ft x 98.75 ft
During this transaction, the landlord of the property was Fortuna Realty Group. The loan was extended by Goldman Sachs Bank USA, serving as the lender. The deal was completed on 07/24/2020 and involved David Solomon & Morris Moinian as indicated in the loan image.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$58,000,000.00
Monthly NOI$386,666.67
Monthly Debt Service$366,599.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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