Fort Amsterdam Capital Provides $42M Bridge Loan For Mixed-Use Property In Tribeca
88 West Broadway
$42,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Jan 12, 2024
AI
The loan, totaling $42,000,000, was provided by Fort Amsterdam Capital, represented by Evan O'Connor & David Schwartz. The loan is categorized as a bridge loan. It is collateralized by a mixed-use assemblage located at 74 Warren Street, 72 Warren Street, 80 West Broadway, and 88 West Broadway in the Tribeca neighborhood of Manhattan. The assemblage includes a development site, a mixed-use building, and residential condominiums. The loan transaction involves the 6R Capital Group as the landlord.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $42,000,000
- Lender: Fort Amsterdam Capital - Evan O'Connor & David Schwartz
- Landlord: 6R Capital Group
The loan provided by Fort Amsterdam Capital, represented by Evan O'Connor & David Schwartz, is secured by the mixed-use assemblage, incorporating 74 Warren Street, 72 Warren Street, 80 West Broadway, and 88 West Broadway. This collateral encompasses a development site, a mixed-use building, and residential condominiums. The loan transaction was executed with the involvement of the 6R Capital Group as the landlord.
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93