Lalezarian Properties Secures $170M Construction Loan For Mixed-Use Project At 606 West 30th St
606 West 30th Street, Manhattan, New York, NY, USA
$170,000,000
$536/SF
Building Size
316,939 SF
Asset Type
Mixed-use
Closing
Dec 8, 2021
AI
The mixed-use property located at 606 West 30th Street in Hudson Yards has recently obtained a construction loan from Wells Fargo. The loan amount secured for this project is $170,000,000. The property, owned by Lalezarian Properties and represented by Kevin Lalezarian, is part of the dynamic Hudson Yards market.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $170,000,000
- Address: 606 West 30th Street
- Market: Hudson Yards
- Asset Type: Mixed-use
- Lender: Wells Fargo
- Landlord: Lalezarian Properties - Kevin Lalezarian
- Loan Type: Construction loan
This transaction was facilitated by Kevin Lalezarian, representing Lalezarian Properties, and Wells Fargo, who provided the construction loan for this mixed-use property in Hudson Yards.
Players
New York 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93