facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Development Site

/

Loan

/

636 West 158th Street

Updated Mar 2, 2026

Artifact And Ashok Khubani Secure $85.5 Million Refinance From Genesis Capital For Development Site
FINANCEDDevelopment Site

Artifact And Ashok Khubani Secure $85.5 Million Refinance From Genesis Capital For Development Site

636 West 158th Street & 646 West 158th Street

$85,500,000

Units

13

Asset Type

Development Site

Closing

Feb 18, 2026

About this deal

AI

The transaction involves a development site located at 636 West 158th Street and 646 West 158th Street in the Washington Heights market of Manhattan, with a total building square footage of 112,104. The loan amount for this refinance is $85,500,000, secured against a 13-unit development where a 120-unit project is planned, backed by significant air rights.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $85,500,000
  • Lender: Genesis Capital
  • Landlord: Artifact & Ashok Khubani
  • Asset Address: 636 West 158th Street & 646 West 158th Street
  • Market: Washington Heights, Manhattan
  • Building Square Footage: 112,104

Artifact and Ashok Khubani executed the refinancing through West 158 Street Opportunity LLC, facilitating a significant financial move with Genesis Capital. This financing is aimed to support the development of a larger project at the site, indicating strong investment intentions in the area.

Players

Genesis Capital
Genesis CapitalLender

New York Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Deal FAQ

Browse New York development site loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets