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T30 Capital Secures $17.5M Construction Loan From SME Capital Ventures For Development Site In Manhattan

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FINANCED
$17,500,000

New York

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Development Site
Financed 05/02/2025
the dealdetailscomps
Property Image
FINANCED

T30 Capital Secures $17.5M Construction Loan From SME Capital Ventures For Development Site In Manhattan

44 46 West 8th Street

See Similar Deals
Development Site
Financed 05/02/2025
the dealdetailscomps

Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Loan

A construction loan of $17,500,000 was secured by T30 Capital for a development site located at 44-46 West 8th Street in the Greenwich Village market of Manhattan. The property encompasses a total building square footage of 22,338. This development is projected to consist of five units and is scheduled for completion in 2025.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $17,500,000
  • Address: 44-46 West 8th Street
  • Market: Greenwich Village, Manhattan
  • Lender: SME Capital Ventures
  • Landlord: Margaret Grossman - T30 Capital
  • Loan Type: Construction

The transaction involves key players in the financing of the development, with SME Capital Ventures acting as the lender. Margaret Grossman represents the landlord in this deal through her association with T30 Capital, highlighting her involvement in the project's financial structuring.

Details

FINANCED
IMAGE: Margaret Grossman DATE: 05/02/2025 ADDRESS: 44-46 West 8th Street MARKET: Greenwich Village, Manhattan ASSET TYPE: Development Site ~ BSF: 22,338 LENDER: SME Capital Ventures LANDLORD: Margaret Grossman - T30 Capital LOAN AMOUNT: $17,500,000 LOAN TYPE: Construction NOTE: T30 Capital secured a $17.5M construction loan from SME Capital Ventures for a five-unit, 22,338-sf development at 44-46 West 8th Street in Manhattan, expected to be completed in 2025.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,500,000.00

Monthly NOI$116,666.67
Monthly Debt Service$110,611.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00