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88 West Broadway

Updated Dec 4, 2024

Fort Amsterdam Capital Provides $42M Bridge Loan For Mixed-Use Property In Tribeca
FINANCEDMixed-use

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

About this deal

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.

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$42,000,000

Mixed-use

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Players

Fort Amsterdam Capital
Fort Amsterdam CapitalLender
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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

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