Cadence Property Group's Howard Glatzer Secures $41.5M Construction Loan For Development Site On West 52nd Street, New York
FINANCED
$41,500,000
New York
See Similar DealsDevelopment Site
Financed 08/01/2023
FINANCED
Cadence Property Group's Howard Glatzer Secures $41.5M Construction Loan For Development Site On West 52nd Street, New York
360 W 52nd St New York, NY 10019, USA
See Similar DealsDevelopment Site
Financed 08/01/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
A construction loan has been secured for a development site located at 360 West 52nd Street in New York. The loan amount is $41,500,000, and it is financed by Benefit Street Partners.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $41,500,000
- Address: 360 West 52nd Street
- Market: New York
The development site's landlord is Howard Glatzer from Cadence Property Group. The brokers involved in the deal are Evan Pariser and Aaron Niedermayer from JLL. They played a key role in facilitating the loan transaction between Benefit Street Partners and the property's owner.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$41,500,000.00
Monthly NOI$276,666.67
Monthly Debt Service$262,308.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions