Updated Sep 1, 2026
Saba Vahdat Secures $27 Million Construction Loan From Metropolitan Commercial Bank For Development Site In New York
58 West 135th Street
$27,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 28, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 58 West 135th Street in New York. The loan amount secured for this development is $27,000,000, specifically for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $27,000,000
- Lender: Metropolitan Commercial Bank
- Borrower: Saba Vahdat
- Loan Type: Construction
Saba Vahdat is the borrower in this transaction, while Metropolitan Commercial Bank serves as the lender, facilitating the financing necessary for the development project at the specified address.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93