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L&M Development Partners, Goldman Sachs & Taconic Partners Secure $91.1M Construction Loan In Inwood

Property Image
FINANCED
$91,097,000

New York

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Development Site219,073 SF
Financed 08/04/2022
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Property Image
FINANCED

L&M Development Partners, Goldman Sachs & Taconic Partners Secure $91.1M Construction Loan In Inwood

405 West 206th Street, New York City, New York 10034, United States

See Similar Deals
Development Site219,073 SF
Financed 08/04/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$415
Total Square Footage:219,073 SF
Transaction Type:Loan

Located at 405 West 206th Street in the neighborhood of Inwood, this development site has recently completed a closed transaction. The property is a development site with a buildable square footage (BSF) of 219,073 and can accommodate a total of 194 units.

Summary of transaction details

  • Property Type: Development Site
  • Address: 405 West 206th Street
  • Market: Inwood
  • BSF: 219,073
  • Units: 194

The loan for this transaction was provided by L+M Development Partners, Goldman Sachs, and Taconic Partners. The total loan amount was $91,097,000 and it was a construction loan. The lender representatives involved in this deal were David Dishy from L+M Development Partners and the team from Goldman Sachs.

The landlord in this transaction was the NYS Housing Finance Agency, represented by Julie M. Behrens.

Players

Goldman Sachs
Goldman Sachs
LENDER
L+M Development Partners
L+M Development Partners
LENDER
Taconic Partners
Taconic Partners
LENDER

Details

FINANCED
IMAGE: David Dishy DATE: 08/04/2022 ADDRESS: 405 West 206th Street MARKET: Inwood ASSET TYPE: Development Site ~ BSF: 219,073 ~ UNITS: 194 LENDER: L+M Development Partners (@LMDevPartners) - David Dishy (@DavidDishy), Goldman Sachs (@GoldmanSachs) & Taconic Partners LANDLORD: NYS Housing Finance Agency - Julie M. Behrens (@Mizz.Jewels) LOAN AMOUNT: $91,097,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$91,097,000.00

Monthly NOI$607,313.33
Monthly Debt Service$575,795.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00