Goldman Sachs & Merchants Bank Of Indiana Provide $294M Construction Loan For 500 Main Street Mixed-Use Property In New Rochelle
FINANCED
$294,000,000
New York
See Similar DealsMixed-use
Financed 03/01/2022
FINANCED
Goldman Sachs & Merchants Bank Of Indiana Provide $294M Construction Loan For 500 Main Street Mixed-Use Property In New Rochelle
500 Main Street, New Rochelle, New York 10801, United States
See Similar DealsMixed-use
Financed 03/01/2022
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
500 Main Street in New Rochelle has been involved in a recent closed property transaction. The mixed-use property consists of 477 units and has attracted the attention of various parties.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $294,000,000
- Address: 500 Main Street
- Market: New Rochelle
- Units: 477
Goldman Sachs and Merchants Bank of Indiana joined forces to provide a construction loan for this venture. With a loan amount of $294,000,000, the developers behind this project, BRP Companies, led by Meredith Marshall, secured the necessary financing for the construction phase.
It's clear that this property is poised for significant growth and development, and with BRP Companies at the helm, we can expect a remarkable outcome.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$294,000,000.00
Monthly NOI$1,960,000.00
Monthly Debt Service$1,858,279.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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