Cathy Bank Provides $43M Loan For Dev Site At 300 West 30th Street
300 West 30th Street, Manhattan, New York, NY, USA
$43,000,000
$633/SF
Building Size
67,876 SF
Asset Type
Development Site
Closing
Apr 15, 2021
AI
The development site located at 300 West 30th Street in Chelsea has been involved in a loan transaction. The lender, Cathy Bank, provided a loan amount of $43,000,000 for this property. The site spans a total of 67,876 square feet and consists of 82 units.
Summary of transaction details
- Property Type: Development site
- Loan Amount: $43,000,000
- Address: 300 West 30th Street
- Market: Chelsea
- Units: 82
Eastern Star Development, represented by Anthony Hu, is the landlord of this property.
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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93