Updated Mar 11, 2025
Related Companies Acquires Development Site At 517 West 35th Street In Manhattan
517 W 35th St, New York, NY 10001, USA
$65,000,000
$2,772/SF
Building Size
23,447 SF
Asset Type
Development Site
Closing
Sep 28, 2018
About this deal
AI
517 West 35th Street, a development site located in Manhattan, was involved in a closed property transaction. The property was financed by Mack Real Estate Credit Strategies, who provided a loan of $65,000,000. The landlord in this deal was Related Companies.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $65,000,000
- Lender: Mack Real Estate Credit Strategies
- Landlord: Related Companies
Richard Mack, Jeff Blau, and Stephen Ross were key individuals involved in this transaction. They played significant roles in the deal, representing their respective agencies.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93