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Gotham Organization Secures $259.7M Construction Loan From NYC Housing Development Corporation In Yorktown Heights
FINANCED
$259,700,000
New York
See Similar DealsDevelopment Site
Financed 03/21/2025
FINANCED
Gotham Organization Secures $259.7M Construction Loan From NYC Housing Development Corporation In Yorktown Heights
35 Inspiration Road
See Similar DealsDevelopment Site
Financed 03/21/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The asset involved in the context is a development site located at 35 Inspiration Road in Yorktown Heights. The loan amount for this transaction is $259,700,000.00, which is categorized as a construction loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $259,700,000.00
- Lender: NYC Housing Development Corporation
- Landlord: Gotham Organization
- Loan Type: Construction
- Transaction Date: 03/21/2025
Key individuals involved in this transaction include the NYC Housing Development Corporation, acting as the lender, and Gotham Organization, representing the landlord in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$259,700,000.00
Monthly NOI$1,731,333.33
Monthly Debt Service$1,641,480.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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