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ZD Jasper Realty Secures $103M Construction Loan From Preferred Bank For Hudson Yards Development Sites
FINANCED
$103,000,000
New York
See Similar DealsDevelopment Site
Financed 09/01/2023
FINANCED
ZD Jasper Realty Secures $103M Construction Loan From Preferred Bank For Hudson Yards Development Sites
501 9th Avenue
See Similar DealsDevelopment Site
Financed 09/01/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
ZD Jasper Realty, represented by its owner Jasper Wu, has secured a new construction loan valued at $103 million from Preferred Bank. The loan is specifically intended for the development sites located at 501, 485-487, and 489-491 9th Avenue in Hudson Yards, Manhattan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $103,000,000
- Lender: Sylvia Tseng - Preferred Bank
- Landlord: Jasper Wu - ZD Jasper Realty
This substantial loan will facilitate the construction and development of the mentioned sites, with ZD Jasper Realty leading the project. The loan, provided by Preferred Bank and facilitated by Sylvia Tseng, will support the advancement of the development site in Hudson Yards, Manhattan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$103,000,000.00
Monthly NOI$686,666.67
Monthly Debt Service$651,030.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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