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West 15th Street, New York,...

Updated Sep 14, 2026

RXR Realty & Youngwoo & Assoc. Secures $375M Loan For Pier 57 Development Site With Nuveen As Lender
FINANCEDDevelopment Site

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

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

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$375,000,000

$669/SF

Development Site

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Players

Simon Ziff

Ackman-Ziff Real Estate Group

Broker

$2.6B

vol

12 deals

Broker
RXR Realty
RXR RealtyBrokerage

Youngwoo

RXR Realty

Landlord

$750M

vol

3 deals

Landlord
Bilt advertisement

New York Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Deal FAQ

About $669 per square foot on a published $375M for 560,000 square feet (2019).

Visit Russell Schildkraut to view all their deals.

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

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