Webster Bank Provides $76 Million Construction Loan For Mixed-Use Development At 2 Wall Street
2 Wall Street
$76,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Dec 21, 2025
About this deal
AI
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.
On the Map
$76,000,000
Mixed-use
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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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93