Updated Apr 3, 2025
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
$47,000,000
Building Size
—
Asset Type
Industrial
Closing
Jun 9, 2023
About this deal
AI
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.
On the Map
$47,000,000
Industrial
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Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93