Madison Realty & Cerberus Provide $187.5M Construction Loan For Hudson Yards Hotel

The property involved in the transaction is a Hotel located at 450 Eleventh Avenue in Hudson Yards, Manhattan. The loan amount secured for this construction project is $187,500,000. The lenders involved in the deal are Madison Realty Capital and Cerberus Capital Management, with Marx Development Group holding the title of the landlord. The brokers representing the transaction are Adam Hakim and James Murad from Meridian Capital Group.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $187,500,000
• Address: 450 Eleventh Avenue
• Market: Hudson Yards, Manhattan
• Lender: Madison Realty Capital & Cerberus Capital Management
• Landlord: Marx Development Group
• Brokers: Adam Hakim & James Murad - Meridian Capital Group

Adam Hakim, Josh Zegen, and James Murad were the key individuals involved in facilitating this real estate transaction. The collaboration between Madison Realty Capital, Cerberus Capital Management, and Marx Development Group underscores the significant financial backing and strategic planning that went into securing the $187,500,000 construction loan for the Hotel project at 450 Eleventh Avenue.