Bank Hapoalim Provides $100M Construction Loan For Mixed-Use Property On Platt Street In New York City
FINANCED
$100,000,000
New York
See Similar DealsMixed-use270,000 SF
Financed 12/29/2022
FINANCED
Bank Hapoalim Provides $100M Construction Loan For Mixed-Use Property On Platt Street In New York City
7 Platt Street
See Similar DealsMixed-use270,000 SF
Financed 12/29/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$370
Total Square Footage:270,000 SF
Transaction Type:Loan
A $100,000,000 construction loan has been provided by Bank Hapoalim (Bhi) to The Moinian Group for the property located at 7 Platt Street in New York City. The property is a mixed-use asset with a total square footage of 270,000.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $100,000,000
- Lender: Bank Hapoalim (Bhi)
- Landlord: The Moinian Group
- Brokers: Drew Anderman & Eddie Haber - Meridian Capital Group
The loan from BHI will finance MSD's existing $165,000,000 construction loan commitment to The Moinian Group. Drew Anderman and Eddie Haber from Meridian Capital Group represented the parties involved in the deal.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$100,000,000.00
Monthly NOI$666,666.67
Monthly Debt Service$632,068.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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