Skyline Developers Secures $135.2M Construction Loan From Goldman Sachs Bank For Midtown West Mixed-Use Property
10 West 55th Street
$135,200,000
$885/SF
Building Size
152,689 SF
Asset Type
Mixed-use
Closing
Mar 22, 2023
AI
The mixed-use property located at 10 West 55th Street in Midtown West, Manhattan has recently secured a construction loan. The property, encompassing a total area of 152,689 square feet, consists of 96 units.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $135,200,000
- Address: 10 West 55th Street
- Market: Midtown West, Manhattan
- Square Footage: 152,689
- Units: 96
The loan, provided by Goldman Sachs Bank, has enabled the property's development. Skyline Developers, serving as the landlord, is overseeing the project's progress. With the loan amounting to $135,200,000, the construction of this mixed-use property is expected to advance in the near future.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93