Webster Bank Provides $76 Million Construction Loan For Mixed-Use Development At 2 Wall Street
FINANCED
$76,000,000
New York
See Similar DealsMixed-use
Financed
FINANCED
Webster Bank Provides $76 Million Construction Loan For Mixed-Use Development At 2 Wall Street
2 Wall Street
See Similar DealsMixed-use
Financed
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
The asset involved in this transaction is a mixed-use property located at 2 Wall Street in the Financial District. The loan amount secured for this property is $76,000,000, provided through a construction loan with a term of 3 years.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $76,000,000
- Lender: Webster Bank
- Broker: Jack Phillips - Largo Real Estate Advisors
- Loan Type: Construction
- Loan Terms: 3 Years
- Address: 2 Wall Street
- Market: Financial District
This transaction highlights the involvement of Jack Phillips representing the broker firm Largo Real Estate Advisors in securing financing for the property. Webster Bank serves as the lender, facilitating the construction loan for this asset.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$76,000,000.00
Monthly NOI$506,666.67
Monthly Debt Service$480,371.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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