Inbursa Provides $150M Construction Loan For Mixed-Use Property In NYC
4650 Broadway
$150,000,000
$415/SF
Building Size
361,128 SF
Asset Type
Mixed-use
Closing
Apr 14, 2023
About this deal
AI
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.
On the Map
$150,000,000
$415/SF
Mixed-use
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Players
Market 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93