Updated Sep 14, 2026
RXR Realty & Youngwoo & Assoc. Secures $375M Loan For Pier 57 Development Site With Nuveen As Lender
West 15th Street, New York, NY 10014, USA
$375,000,000
$669/SF
Building Size
560,000 SF
Asset Type
Development Site
Closing
Apr 11, 2019
About this deal
AI
Pier 57, a development site, was involved in a closed transaction. The loan amount for this property was $375M, and it spans across an area of 560K square feet.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $375M
- Address: Pier 57
The brokers involved in this deal were Simon Ziff and Russell Schildkraut from Ackman-Ziff. The lender for the loan was Nuveen, a subsidiary of TIAA, and the landlords were RXR Realty and Youngwoo & Associates.
The development site loan at West 15th Street, New York, NY 10014, USA in New York, New York financed for $375M in 2019. The building is 560,000 square feet, implying about 669 per square foot on the published price. Russell Schildkraut, Simon Ziff, Youngwoo, RXR Realty appear on the loan alongside RXR Realty. This page is the New York, New York file for the West 15th Street, New York, NY 10014, USA development site financed: pricing, party profiles, and other closed development site comps from the same New York sit in the Market section below. Filter that New York development site set by closing date to see what else financed near West 15th Street, New York, NY 10014, USA around 2019. Published consideration for West 15th Street, New York, NY 10014, USA is $375M, dated 2019. Cite this RXR Realty & Youngwoo & Assoc. Secures $375M Loan For Pier 57 Development Site With Nuveen As Lender loan when underwriting similar development site product around New York, New York.
On the Map
$375,000,000
$669/SF
Development Site
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Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93