RXR Realty & Youngwoo & Assoc. Secures $375M Loan For Pier 57 Development Site With Nuveen As Lender
FINANCED
$375,000,000
New York
See Similar DealsDevelopment Site560,000 SF
Financed 04/12/2019
FINANCED
RXR Realty & Youngwoo & Assoc. Secures $375M Loan For Pier 57 Development Site With Nuveen As Lender
West 15th Street, New York, NY 10014, USA
See Similar DealsDevelopment Site560,000 SF
Financed 04/12/2019
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$669
Total Square Footage:560,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$375,000,000.00
Monthly NOI$2,500,000.00
Monthly Debt Service$2,370,255.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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