Updated Oct 10, 2026
T30 Capital Secures $17.5M Construction Loan From SME Capital Ventures For Development Site In Manhattan
44 46 West 8th Street
$17,500,000
Building Size
—
Asset Type
Development Site
Closing
May 2, 2025
About this deal
AI
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.
On the Map
$17,500,000
Development Site
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Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93