facebook
Traded Co logo
Submit

Bank OZK Provides $95M Construction Loan For Multifamily Property At 300 East 50th Street In Turtle Bay, Manhattan

Property Image
FINANCED
$95,000,000
Nicco Lupo
Jillian Mariutti
Geoff Goldstein
+ 3

New York

See Similar Deals
MultiFamily136,536 SF
Financed 11/30/2023
the dealplayerscompscontact
Property Image
FINANCED

Bank OZK Provides $95M Construction Loan For Multifamily Property At 300 East 50th Street In Turtle Bay, Manhattan

300 East 50th Street

See Similar Deals
MultiFamily136,536 SF
Financed 11/30/2023
Nicco Lupo
Jillian Mariutti
Geoff Goldstein
+ 3
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$695
Total Square Footage:136,536 SF
Transaction Type:Loan

The property at 300 East 50th Street in Turtle Bay, Manhattan has been involved in a loan transaction. The loan amount is $95,000,000 and it is a construction loan. The multifamily asset has a total square footage of 136,536 and consists of 194 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $95,000,000
  • Address: 300 East 50th Street, Turtle Bay, Manhattan
  • Market: Turtle Bay, Manhattan
  • Asset Type: Multifamily
  • Square Footage: 136,536
  • Number of Units: 194

The loan was provided by Bank OZK. The property is owned by MaryAnne Gilmartin, Jeff Rosen, and Adam Freindlich of MAG Partners, Eyal Ofer of Global Holdings, and Danny Jumblatt of Safanad. The deal was facilitated by brokers Geoff Goldstein, Jillian Mariutti, Stephen Van Leer, Rob Hinckley, Jeffrey Julien, and Nicco Lupo of JLL.

Players

Jeffrey (Jeff) Julien
JLL
Jeffrey Julien
58 deals$9B volume
BROKER
Geoff Goldstein
JLL
Geoff Goldstein
55 deals$7.9B volume
BROKER
Rob Hinckley
JLL
Rob Hinckley
82 deals$11.7B volume
BROKER
Jillian Mariutti
JLL
Jillian Mariutti
20 deals$1.7B volume
BROKER
Nicco Lupo
JLL
Nicco Lupo
47 deals$9B volume
BROKER
Stephen Van Leer
JLL
Stephen Van Leer
17 deals$1.2B volume(516) 661-0102
BROKER
Bank OZK
Bank OZK
LENDER

Details

FINANCED
IMAGE: Jeff Rosen, Adam Freindlich, MaryAnne Gilmartin, Eyal Ofer & Danny Jumblatt DATE: 11/30/2023 ADDRESS: 300 East 50th Street MARKET: Turtle Bay, Manhattan ASSET TYPE: Multifamily ~ SF: 136,536 ~ UNITS: 194 LENDER: Bank OZK (@BankOZK) LANDLORD: MaryAnne Gilmartin, Jeff Rosen & Adam Freindlich, - MAG Partners (@Mag_Partners); Eyal Ofer - Global Holdings; Danny Jumblatt - Safanad BROKERS: Geoff Goldstein, Jillian Mariutti, Stephen Van Leer, Rob Hinckley, Jeffrey Julien, Nicco Lupo - JLL LOAN AMOUNT: $95,000,000 LOAN TYPE: Construction -

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$95,000,000.00

Monthly NOI$633,333.33
Monthly Debt Service$600,464.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00