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300 East 50th Street

Updated Oct 14, 2026

JLL Secures $202M Capitalized Structured Forward Purchase & Construction Loan For 300 East 50th Street Multifamily Property In Turtle Bay, Manhattan
FINANCEDMultiFamily

JLL Secures $202M Capitalized Structured Forward Purchase & Construction Loan For 300 East 50th Street Multifamily Property In Turtle Bay, Manhattan

300 East 50th Street

$202,000,000

$1,479/SF

Building Size

136,536 SF

Asset Type

MultiFamily

Closing

Nov 21, 2023

About this deal

AI

The multifamily property located at 300 East 50th Street in Turtle Bay, Manhattan was recently involved in a closed transaction. This property spans an impressive 136,536 square feet and consists of 194 units. The transaction involved a structured forward purchase and construction loan with a capitalization amount of $202,000,000. The lender for this transaction was Bank OZK.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $202,000,000
  • Square Footage: 136,536
  • Address: 300 East 50th Street, Turtle Bay, Manhattan
  • Market: Turtle Bay, Manhattan
  • Units: 194

Notable companies and individuals involved in this transaction include MAG Partners, Safanad, Known Point Capital, KRW Realty Advisors, and Global Holdings Management Group. The deal was facilitated by the brokers Rob Hinckley, Geoff Goldstein, Jeff Julien, Nicco Lupo, Jillian Mariutti, and Stephen Van Leer from JLL.

On the Map

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$202,000,000

$1,479/SF

MultiFamily

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Players

Geoff Goldstein

JLL

Broker

$9.7B

vol

58 deals

Broker
Global Holdings Management Group
Global Holdings Management GroupBrokerage
Bank OZK
Bank OZKLender
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Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $1.5K per square foot on a published $202M for 136,536 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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