Goldman Sachs Bank USA Provides $58M Loan For Development Site In Garment District
30 W 39th St, New York, NY 10018, USA
$58,000,000
$7,808/SF
Building Size
7,428 SF
Asset Type
Development Site
Closing
Jul 23, 2020
AI
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.
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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93