Updated Sep 4, 2026
Jordan Lang Of McCourt Partners Secures $120 Million Loan From Bain Capital For Development Site
358 10th Avenue
$120,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 25, 2026
About this deal
AI
The asset involved in the transaction is a development site located at 358 10th Avenue in the Hudson Yards market of Manhattan. The site spans a total of 257,750 buildable square feet and has secured financing of $120 million.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $120,000,000
- Address: 358 10th Avenue
- Market: Hudson Yards, Manhattan
- Lender: Bain Capital
- Landlord: Jordan Lang - McCourt Partners
Jordan Lang, representing McCourt Partners, was involved in the loan transaction facilitated by Bain Capital, highlighting the partnership's efforts in securing significant financing for the development project.
On the Map
$120,000,000
Development Site
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Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93