BridgeCity Capital Provides $35M Acquisition Loan For Development Site In Hudson Yards | 430 West 37th Street | Omar Ferreira, Morris Betesh | Development Site | Loan

Summary

Loan

NEW YORK

Development Site

19,749 sqft

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].

Players

All
3

Agents
2
Agencies
1

Omar Ferreira

Vice President

Morris Betesh

Senior Managing Director

$754.4M Sold

Meridian Capital Group

Details

Deal Summary

FINANCED

IMAGE: Louis Lebovits, Moishe Loketch, Allan Lebovits, Pinny Loketch, Morris Betesh & Omar Ferreira DATE: 03/17/2022 ADDRESS: 430 W. 37th St. MARKET: Hudson Yards ASSET TYPE: Development Site ~ SF: 19,749 LENDER: BridgeCity Capital (@BridgeCityFunding) (@Loketch_Group) LANDLORD: Tom Wu BROKERS: Morris Betesh & Omar Ferreira - Meridian Capital Group LOAN AMOUNT: $35,000,000 LOAN TYPE: Acquisition LOAN TERMS: 18 month term with 6 month extension option 68ltv NOTE FROM LENDER: BridgeCity Capital is actively financing mixed-use, residential, industrial & construction projects in the Tri-State Area, South Florida & in various other states. Visit us at https://www.bridgecityfunding.com/ or send loan inquiries to [email protected] For Investment Inquiries [email protected]

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Address430 West 37th Street

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