Gotham Organization Secures $247M Construction Loan For Mixed-Use Property On 10th Avenue

510 W 42nd St, New York, NY 10036, USA

$42,000,000

$1,690/SF

Building Size

24,850 SF

Asset Type

Mixed-use

Closing

Jun 11, 2019

AI

The mixed-use property located at 550 10th Avenue in the Clinton - Hell's Kitchen market has been involved in a recent closed loan transaction. The property spans approximately 430,000 square feet and consists of 453 units.

Summary of transaction details

Property Type: Mixed-use
Transaction Amount: $247,000,000
Loan Type: Construction
Far: 6.20
Tax Class: 4
Lot Size: 15,939
Lot Dimension: 197.6 ft x 100 ft

In this transaction, the loan was provided by Wells Fargo, US Bank, and Lionheart Strategic Management. The landlord of the property is Gotham Organization, represented by Joel Picket and David Picket.

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