BridgeCity Capital Provides $35M Acquisition Loan For Development Site In Hudson Yards

430 West 37th Street, New York City, New York 10018, United States

$35,000,000

$1,772/SF

Building Size

19,749 SF

Asset Type

Development Site

Closing

Mar 16, 2022

AI

A loan has been secured for a development site located at 430 W. 37th St in the Hudson Yards market. The property is a development site with a total area of 19,749 square feet.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $35,000,000
Address: 430 W. 37th St
Market: Hudson Yards
Lender: BridgeCity Capital
Landlord: Tom Wu
Brokers: Morris Betesh & Omar Ferreira - Meridian Capital Group

The loan amount secured for this acquisition is $35,000,000. It is an 18-month term loan with a 6-month extension option. The loan-to-value (LTV) ratio is 68%.

BridgeCity Capital, the lender, actively finances mixed-use, residential, industrial, and construction projects in the Tri-State Area, South Florida, and various other states. For loan inquiries, contact [email protected]. For investment inquiries, contact [email protected].

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