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405 West 206th Street, New ...

Updated Mar 11, 2025

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

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

$91,097,000

$415/SF

Building Size

219,073 SF

Asset Type

Development Site

Closing

Aug 3, 2022

About this deal

AI

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.

On the Map

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$91,097,000

$415/SF

Development Site

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Players

Goldman Sachs
Goldman SachsLender
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New York Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Deal FAQ

About $415 per square foot on a published $91.1M for 219,073 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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