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Bridge Investment Group Provides $272.2M Refinance Loan For 250 West 19th Street Multifamily In Chelsea

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FINANCED
$272,200,000

New York

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MultiFamily407,920 SF
Financed 09/06/2024
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FINANCED

Bridge Investment Group Provides $272.2M Refinance Loan For 250 West 19th Street Multifamily In Chelsea

250 West 19th Street

See Similar Deals
MultiFamily407,920 SF
Financed 09/06/2024
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$667
Total Square Footage:407,920 SF
Transaction Type:Loan

The asset involved in this transaction is a multifamily property located at 250 West 19th Street in Chelsea, Manhattan. The property spans 407,920 square feet and consists of 637 units. The loan amount for this refinance transaction is $272,200,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $272,200,000
  • Address: 250 West 19th Street
  • Market: Chelsea, Manhattan
  • Asset Size: 407,920 SF
  • Units: 637
  • Lender: Bridge Investment Group - James Chung
  • Landlord: Andrew Farkas - Island Capital Group & Samuel Jesselson, Jason Warsavsky & Jason Wasserman - JW Capital Management
  • Brokers: Jordan Roeschlaub & Nick Scribani - Newmark
  • Loan Type: Refinance

The deal involved key players including James Chung representing Bridge Investment Group, and Andrew Farkas from Island Capital Group, along with Samuel Jesselson, Jason Warsavsky, and Jason Wasserman from JW Capital Management. The brokerage team was composed of Jordan Roeschlaub and Nick Scribani from Newmark, who facilitated the transaction.

Players

Nick Scribani
191 deals$55.1B volume(212) 372-2113
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Bridge Investment Group
LENDER

Details

FINANCED
IMAGE: IMAGE: Jordan Roeschlaub, Nick Scribani, Andrew Farkas, Jason Wasserman, Jason Warsavsky & James Chung DATE: 09/06/2024 ADDRESS: 250 West 19th Street MARKET: Chelsea, Manhattan ASSET TYPE: Multifamily ~ SF: 407,920 ~ UNITS: 637 LENDER: Bridge Investment Group (@Bridge.CRE) - James Chung LANDLORD: Andrew Farkas - Island Capital Group & Samuel Jesselson, Jason Warsavsky & Jason Wasserman - JW Capital Management BROKERS: Jordan Roeschlaub (@JordyRoeschlaub) & Nick Scribani (@ScribSays) - Newmark (@Newmark) LOAN AMOUNT: $272,200,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$272,200,000.00

Monthly NOI$1,814,666.67
Monthly Debt Service$1,720,489.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00