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G4 Capital Partners Provides $38M Construction Loan For Mixed-Use Property In SoHo, Manhattan

Property Image
FINANCED
$38,000,000

New York

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Mixed-use
Financed 09/14/2022
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Property Image
FINANCED

G4 Capital Partners Provides $38M Construction Loan For Mixed-Use Property In SoHo, Manhattan

182 Spring Street, New York City, New York 10012, United States

See Similar Deals
Mixed-use
Financed 09/14/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan

A mixed-use property located at 182-186 Spring Street in SoHo, Manhattan has been involved in a recent closed transaction. The property is known for its prime location in the vibrant neighborhood of SoHo. The transaction took place on September 14, 2022, and the property is owned by SK Development, represented by Scott Shnay from CB Developers & Madison Realty Capital.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $38,000,000
  • Lender: G4 Capital Partners
  • Landlord: SK Development - Scott Shnay, CB Developers & Madison Realty Capital
  • Date: September 14, 2022

G4 Capital Partners provided a construction loan amounting to $38,000,000 for the development of the property. The loan type was specifically arranged for construction purposes, contributing to the enhancement and potential expansion of the mixed-use asset at 182-186 Spring Street.

Players

SK Development
SK Development
BROKERAGE
G4 Capital Partners
G4 Capital Partners
LENDER
Madison Realty Capital
Madison Realty Capital
LENDER
Madison Realty Capital
Madison Realty Capital
LANDLORD
SK Development
SK Development
LANDLORD
CD
CB Developers
LANDLORD

Details

FINANCED
IMAGE: Scott Shnay DATE: 09/14/2022 ADDRESS: 182-186 Spring Street MARKET: SoHo, Manhattan ASSET TYPE: Mixed-use LENDER: G4 Capital Partners LANDLORD: SK Development (@SKDevelopment) - Scott Shnay, CB Developers & Madison Realty Capital (@MadisonRealtyCapital) LOAN AMOUNT: $38,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$38,000,000.00

Monthly NOI$253,333.33
Monthly Debt Service$240,185.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00