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ZD Jasper Realty Secures $47M Construction Loan From Ponce Bank For Industrial Building In Hudson Yards, Manhattan

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FINANCED
$47,000,000

New York

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Industrial
Financed 06/09/2023
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Property Image
FINANCED

ZD Jasper Realty Secures $47M Construction Loan From Ponce Bank For Industrial Building In Hudson Yards, Manhattan

439 West 36th Street Manhattan, New York 10018, USA

See Similar Deals
Industrial
Financed 06/09/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Transaction Type:Loan

ZD Jasper Realty has secured a new construction loan valued at $47 million for the industrial building located at 439 West 36th Street in the Hudson Yards neighborhood of Manhattan. The loan was provided by Ponce Bank, with Steven A. Tsavaris as the representative.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $47,000,000
  • Lender: Ponce Bank - Steven A. Tsavaris
  • Landlord: ZD Jasper Realty - Zhidong Wu
  • Loan Type: Construction loan

The construction loan from Ponce Bank will support the development of the industrial building at 439 West 36th Street. This transaction highlights ZD Jasper Realty's commitment to enhancing the industrial real estate market in the Hudson Yards area of Manhattan, further solidifying their position as a prominent player in the industry.

Players

Ponce Bank
Ponce Bank
LENDER
Zhidong Wu
ZD Jasper
Zhidong Wu
4 deals$92.2M volume
LANDLORD

Details

FINANCED
IMAGE: 06/09/2023 ADDRESS: 439 West 36th Street MARKET: Hudson Yards, Manhattan ASSET TYPE: Industrial LENDER: Ponce Bank (@PonceBank) - Steven A. Tsavaris LANDLORD: ZD Jasper Realty - Zhidong Wu LOAN AMOUNT: $47,000,000 LOAN TYPE: Construction loan NOTE: ZD Jasper Realty secured a new construction loan valued at $47 million from Ponce Bank for the industrial building at 439 West 36th Street in Hudson Yards, Manhattan.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$47,000,000.00

Monthly NOI$313,333.33
Monthly Debt Service$297,071.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00