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Maxim Capital Group Provides $117.5 Million Loan For Mixed-Use Development At 430 West 37th Street

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FINANCED
$117,500,000

New York

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Mixed-use163,210 SF
Financed 09/04/2024
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FINANCED

Maxim Capital Group Provides $117.5 Million Loan For Mixed-Use Development At 430 West 37th Street

430 West 37th Street

See Similar Deals
Mixed-use163,210 SF
Financed 09/04/2024
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$719
Total Square Footage:163,210 SF
Transaction Type:Loan

The property asset involved in this transaction is a mixed-use development located at 430 West 37th Street in the Hudson Yards market of Manhattan. The asset covers a square footage of 163,210 and comprises 128 units. The loan amount secured for this construction project is $117,500,000, provided by Maxim Capital Group.

Summary of transaction details:

The deal involves significant contributions from key individuals, including the landlord Jasper Wu, who represents ZD Jasper, and the brokers Morris Betesh and Omar Ferreira, who facilitated the transaction. These parties played a vital role in the successful closure of this construction loan.

Players

Morris Betesh
211 deals$12.3B volume(646) 825-7005
BROKER

Omar Ferreira
Arrow Real Estate Advisors
61 deals$3.3B volume(646) 825-7013
BROKER

Meridian Capital Group
BROKERAGE

Details

FINANCED
IMAGE: Morris Betesh, Josh Greene, Jasper Wu, Adam Glick & Omar Ferreira DATE: 09/04/2024 ADDRESS: 430 West 37th Street MARKET: Hudson Yards, Manhattan ASSET TYPE: Mixed-use ~ SF: 163,210 ~ UNITS: 128 LENDER: Maxim Capital Group (@MaximCapitalGroup) LANDLORD: Jasper Wu - ZD Jasper BROKERS: Morris Betesh (@MiBetesh) & Omar Ferreira (@OmarFerr) LOAN AMOUNT: $117,500,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$117,500,000.00

Monthly NOI$783,333.33
Monthly Debt Service$742,679.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00