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MSD Capital Provides $100M Loan For 323-Unit Cooperative In Midtown Manhattan

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FINANCED
$100,000,000

New York

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MultiFamily
Financed 11/08/2023
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FINANCED

MSD Capital Provides $100M Loan For 323-Unit Cooperative In Midtown Manhattan

100 West 57th Street

See Similar Deals
MultiFamily
Financed 11/08/2023
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in this transaction is a multifamily cooperative apartment property located at 100 West 57th Street in Midtown Manhattan. It consists of 323 units and is associated with a loan amount of $100,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $100,000,000
  • Address: 100 West 57th Street
  • Market: Midtown Manhattan
  • Units: 323
  • Lender: Gregg Lemkau - MSD Capital

MSD Capital has reportedly offered an additional $100 million in financing against the fee interest or ground beneath the Carnegie House, further involving the property in this transaction.

Players

MSD Capital
MSD Capital
LENDER
MSD Capital
MSD Capital
LENDER

Details

FINANCED
IMAGE: 11/08/2023 ADDRESS: 100 West 57th Street MARKET: Midtown Manhattan ASSET TYPE: Multifamily ~ UNITS: 323 LENDER: Gregg Lemkau - MSD Capital LOAN AMOUNT: $100,000,000 NOTE: MSD Capital has reportedly offered an additional $100 million in financing against the fee interest or ground beneath the Carnegie House, a 323-unit cooperative apartment property in midtown Manhattan.

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Deal Type
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