Wells Fargo & US Bank Provide $162.4M Loan For Lower East Side Development Site Loan

Located in the Lower East Side, the development site at 55 Suffolk Street and 64 Norfolk Street recently underwent a closed transaction. The property, owned by Gotham Organization represented by Bryan Kelly and Goldman Sachs Urban Investment Group represented by Margaret Anadu, secured a loan from Wells Fargo and US Bank. The loan amount totaled $162,400,000, with a buildable square footage of 400,000.

Summary of transaction details

• Property Type: Development site
• Transaction Amount: $162,400,000
• Lender: Wells Fargo & US Bank
• Landlord: Gotham Organization - Bryan Kelly, Goldman Sachs Urban Investment Group - Margaret Anadu
• Address: 55 Suffolk Street & 64 Norfolk Street
• Market: Lower East Side
• Buildable Square Footage: 400,000

The key individuals involved in this transaction include Bryan Kelly from Gotham Organization and Margaret Anadu from Goldman Sachs Urban Investment Group. Bryan Kelly represented the landlord, Gotham Organization, while Margaret Anadu represented Goldman Sachs Urban Investment Group. The loan, provided by Wells Fargo and US Bank, will contribute to the development of this property in the Lower East Side.