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Arden Group Secures $141.5M Refinance Loan For 222-Unit Building In Washington Heights
FINANCED
$141,500,000
New York
See Similar DealsIndustrial
Financed 07/28/2025
FINANCED
Arden Group Secures $141.5M Refinance Loan For 222-Unit Building In Washington Heights
4650 Broadway
See Similar DealsIndustrial
Financed 07/28/2025
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Loan
The asset involved in this transaction is an industrial property located at 4650 Broadway in Washington Heights, Manhattan. The property has been financed with a loan amount of $141,500,000 as part of a refinance arrangement, replacing a previous loan of $150,000,000 from Banco Inbursa.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $141,500,000
- Lender: Barry Sternlicht - Starwood Property Trust
- Landlord: Craig A. Spencer - Arden Group
- Date: 07/28/2025
This transaction highlights the refinancing efforts by Arden Group, led by landlord Craig A. Spencer, as they move forward with their 222-unit residential building at the specified address. Barry Sternlicht represents Starwood Property Trust in this financing deal.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$141,500,000.00
Monthly NOI$943,333.33
Monthly Debt Service$894,376.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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