Daily limit: 0/10
Carole L. Pittelman Refinances 569-Unit Multifamily Building On 320 West 38th Street For $209.6M
FINANCED
$209,600,000
New York
See Similar DealsMultiFamily718,503 SF
Financed 10/01/2024
FINANCED
Carole L. Pittelman Refinances 569-Unit Multifamily Building On 320 West 38th Street For $209.6M
320 West 38th Street
See Similar DealsMultiFamily718,503 SF
Financed 10/01/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$291
Total Square Footage:718,503 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily residential building located at 320 West 38th Street in the Garment District of Manhattan. It features a total square footage of 718,503 and comprises 569 units. The property was refinanced with a loan amounting to $209,600,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $209,600,000
- Address: 320 West 38th Street
- Market: Garment District, Manhattan
- Asset Size: 718,503 SF
- Units: 569
- Lender: NYS Housing Finance Agency
- Landlord: Carole L. Pittelman - Glenwood Management
- Previous Loan Amount: $260,000,000
- Loan Type: Refinance
The deal involved Glenwood Management as the landlord, represented by Carole L. Pittelman. The financing was sourced from the NYS Housing Finance Agency, facilitating the refinancing of the existing loan from 2014.
Players
Details
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
Similar Lenders
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
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.
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
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$209,600,000.00
Monthly NOI$1,397,333.33
Monthly Debt Service$1,324,814.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions