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Pro H Development Secures $76.7 Million Construction Loan From Urban Standard Capital In NoMad

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FINANCED
$76,700,000
James Murad
Adam Hakim
Seth Weissman
+ 5

New York

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Development Site
Financed
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FINANCED

Pro H Development Secures $76.7 Million Construction Loan From Urban Standard Capital In NoMad

842 Sixth Avenue

See Similar Deals
Development Site
Financed
James Murad
Adam Hakim
Seth Weissman
+ 5
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Loan

The property involved in this transaction is a development site located at 842 Sixth Avenue in the NoMad neighborhood of Manhattan. The total asset comprises a Building Square Footage (BSF) of 114,523. The transaction includes a construction loan amounting to $76,700,000.

Summary of transaction details:

The deal involves key representatives from Urban Standard Capital, who specialize in financing residential construction projects. The landlord's representatives associated with Ripco play a significant role in the transaction, providing expertise in navigating the complexities of real estate deals.

Players

James Murad
Ripco
James Murad
62 deals$2.9B volume(646) 290-2012
BROKER
Adam Hakim
Ripco
Adam Hakim
60 deals$2.9B volume(646) 290-2011
BROKER
MW
Ripco
Michael Winter
14 deals$660.5M volume
BROKER
Alexander (Xander) Korolik
Ripco
Alexander Korolik
9 deals$439M volume(917) 846-9143
BROKER
Evan Brudnicki
Ripco
Evan Brudnicki
9 deals$439M volume(212) 750-6565
BROKER
Ripco
Ripco
BROKERAGE
Urban Standard Capital
Urban Standard Capital
LENDER
Seth Weissman
Urban Standard Capital
Seth Weissman
55 deals$584M volume
ORIGINATOR
Charlie Brosens
Urban Standard Capital
Charlie Brosens
32 deals$484.4M volume(917) 388-2300
ORIGINATOR
Harris Pergament
Urban Standard Capital
Harris Pergament
6 deals$180.7M volume
ORIGINATOR

Details

FINANCED
IMAGE: Charlie Brosens, Harris Pergament, Bean & Seth Weissman DATE: 5/28/2025 ADDRESS: 842 Sixth Avenue MARKET: NoMad, Manhattan ASSET TYPE: Development Site ~ BSF: 114,523 LENDER: Charlie Brosens, Harris Pergament & Seth Weissman - Urban Standard Capital (@USC_NYC) LANDLORD: Pro H Development LANDLORD'S REP: James Murad (@James_Murad), Adam Hakim, Michael Winter, Alexander Korolik (@XanderKorolik) & Evan Brudnicki (@Evan_Brudnicki) - Ripco (@RipcoRealEstate) LOAN AMOUNT: $76,700,000 LOAN TYPE: Construction NOTE FROM LENDER: USC specializes in financing residential construction projects across the country. We take a creative, solutions-oriented approach to structuring deals that meet the unique needs of each project. For more information, contact Charlie at ([email protected]) or Harris at ([email protected]).

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$76,700,000.00

Monthly NOI$511,333.33
Monthly Debt Service$484,796.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00