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

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.