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Fort Amsterdam Capital Provides $42.5M Bridge Loan For Tribeca Development Site

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FINANCED
$42,500,000
Aaron Niedermayer
Vickram Jambu
+ 1

New York

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Development Site228,000 SF
Financed 01/12/2024
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Property Image
FINANCED

Fort Amsterdam Capital Provides $42.5M Bridge Loan For Tribeca Development Site

80 West Broadway, 72 Warren Street, 72 Warren Street & 72 Warren Street

See Similar Deals
Development Site228,000 SF
Financed 01/12/2024
Aaron Niedermayer
Vickram Jambu
+ 1
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$186
Total Square Footage:228,000 SF
Transaction Type:Loan

A loan has been secured for a development site in Tribeca, Manhattan. The property, located at 80 West Broadway, 72 Warren Street, 88 West Broadway, and 74 Warren Street, spans approximately 57,000 square feet. The loan amount is $42,500,000, and it is categorized as a bridge loan.

Summary of Transaction Details

The loan for this property was secured through Fort Amsterdam Capital, with Evan O'Connor and David Schwartz representing the lender. The property is owned by 6R Capital Group, with Shai Shamir and Oz Levi as the landlords. The deal was facilitated by brokers Aaron Niedermayer, Vickram Jambu, Rob Hinckley, and Nicco Lupo from JLL.

Players

Rob Hinckley
81 deals$11.6B volume
BROKER

Vickram Jambu
JLL
30 deals$1.1B volume
BROKER

Aaron Niedermayer
JLL
32 deals$2.2B volume
BROKER

Nicco Lupo
JLL
47 deals$9B volume
BROKER

Fort Amsterdam Capital
LENDER

Details

FINANCED
IMAGE: Rob Hinckley, Nicco Lupo, Aaron Niedermayer, Vickram Jambu, Shai Shamir, Oz Levi, David Schwartz & Evan O’Connor DATE: 01/12/2024 ADDRESS: 80 West Broadway, 72 Warren Street, 88 West Broadway & 74 Warren Street MARKET: Tribeca, Manhattan ASSET TYPE: Development Site, Mixed-Use, Condominiums ~ SF: 57,000 LENDER: Fort Amsterdam Capital - Evan O’Connor & David Schwartz LANDLORD: 6R Capital Group - Shai Shamir & Oz Levi BROKERS: Aaron Niedermayer, Vickram Jambu (@VickramJambu), Rob Hinckley & Nicco Lupo - JLL (@JLL) LOAN AMOUNT: $42,500,000 LOAN TYPE: Bridge

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$42,500,000.00

Monthly NOI$283,333.33
Monthly Debt Service$268,628.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00