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Byron Trott And Gregg Lemkau Provide $288 Million Construction Loan For 222 Broadway Multifamily

Property Image
FINANCED
$288,000,000
Christopher (Chris) Kramer
Jordan (Jordy) Roeschlaub

New York

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MultiFamily770,416 SF
Financed 12/20/2024
the dealplayerscompscontact
Property Image
FINANCED

Byron Trott And Gregg Lemkau Provide $288 Million Construction Loan For 222 Broadway Multifamily

222 Broadway

See Similar Deals
MultiFamily770,416 SF
Financed 12/20/2024
Christopher (Chris) Kramer
Jordan (Jordy) Roeschlaub
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$373
Total Square Footage:770,416 SF
Transaction Type:Loan

The property asset involved in the transaction is located at 222 Broadway, situated in the Financial District of Manhattan. This multifamily asset encompasses 770,416 square feet and consists of 800 units. The loan amount secured for this property is $288,000,000 with a loan type designated as construction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $288,000,000
  • Address: 222 Broadway
  • Market: Financial District, Manhattan
  • Asset Size: 770,416 SF
  • Units: 800
  • Lender: Byron Trott & Gregg Lemkau - BTD MSD
  • Landlord: Jeff Gural - GFP Real Estate
  • Broker Representatives: Jordan Roeschlaub & Christopher Kramer - Newmark

The deal features key participants, including lenders Byron Trott and Gregg Lemkau, representing BTD MSD. Jeff Gural takes on the role of landlord through GFP Real Estate, while the deal is brokered by Jordan Roeschlaub and Christopher Kramer, both affiliated with Newmark.

Players

Christopher (Chris) Kramer
Newmark
Christopher Kramer
112 deals$21.8B volume(212) 850-5472
BROKER
Jordan (Jordy) Roeschlaub
Newmark
Jordan Roeschlaub
322 deals$96.3B volume
BROKER
BDT & MSD Partners
BDT & MSD Partners
LENDER

Details

FINANCED
IMAGE: Jordan Roeschlaub, Christopher Kramer, Jeff Gural, Gregg Lemkau & Byron Trott DATE: 12/20/2024 ADDRESS: 222 Broadway MARKET: Financial District, Manhattan ASSET TYPE: Multifamily ~ SF: 770,416 ~ UNITS: 800 LENDER: Byron Trott & Gregg Lemkau - BTD MSD LANDLORD: Jeff Gural - GFP Real Estate (@GFPRealEstate) BROKERS: Jordan Roeschlaub (@JordyRoeschlaub) & Christopher Kramer - Newmark (@Newmark) LOAN AMOUNT: $288,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$288,000,000.00

Monthly NOI$1,920,000.00
Monthly Debt Service$1,820,355.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00