Updated Jun 1, 2026
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
About this deal
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.
The development site loan at 300 West 30th Street, Manhattan, New York, NY, USA in New York, New York financed for $43M in 2021. Reported inventory is 67,876 square feet across 82 units, or about 633 per square foot. Anthony Hu, Hiwin Group USA appear on the loan alongside Hiwin Group USA. This page is the New York, New York file for the 300 West 30th Street, Manhattan, New York, NY, USA development site financed: pricing, party profiles, and other closed development site comps from the same New York sit in the Market section below. Filter that New York development site set by closing date to see what else financed near 300 West 30th Street, Manhattan, New York, NY, USA around 2021. Published consideration for 300 West 30th Street, Manhattan, New York, NY, USA is $43M, dated 2021. Cite this Cathy Bank Provides $43M Loan For Dev Site At 300 West 30th Street loan when underwriting similar development site product around New York, New York.
Players
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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