Inbursa Provides $150M Construction Loan For Mixed-Use Property In NYC
FINANCED
$150,000,000
+ 1
New York
See Similar DealsMixed-use361,128 SF
Financed 04/14/2023
FINANCED
Inbursa Provides $150M Construction Loan For Mixed-Use Property In NYC
4650 Broadway
See Similar DealsMixed-use361,128 SF
Financed 04/14/2023
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$415
Total Square Footage:361,128 SF
Transaction Type:Loan
The mixed-use property located at 4650 Broadway in New York City has been involved in a recently closed transaction.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $150,000,000
- Address: 4650 Broadway
- Market: New York City
- Square Footage: 361,128 SF
Carlos Slim's Inbursa provided a $150,000,000 construction loan for this deal. Arden Group, led by Craig Spencer, acted as the landlord in the transaction. The Newmark team, consisting of Jordan Roeschlaub, Dustin Stolly, and Chris Kramer, represented the parties involved in the deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$150,000,000.00
Monthly NOI$1,000,000.00
Monthly Debt Service$948,102.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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