Joy Construction Maddd Equities & Drew Katz Refinances Multifamily Property In Hudson Yards With $97M Loan From Natixis CIB On 411 W. 35th St
FINANCED
$97,000,000
New York
See Similar DealsMultiFamily172,000 SF
Financed 07/07/2022
FINANCED
Joy Construction Maddd Equities & Drew Katz Refinances Multifamily Property In Hudson Yards With $97M Loan From Natixis CIB On 411 W. 35th St
411 West 35th Street
See Similar DealsMultiFamily172,000 SF
Financed 07/07/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$564
Total Square Footage:172,000 SF
Transaction Type:Loan
411 W. 35th St., located in the Hudson Yards market, was recently involved in a closed transaction for a multifamily property. The property spans approximately 172,000 square feet and consists of 186 units. The deal involved a refinance loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $97,000,000
- Loan Type: Refinance
- Loan Terms: 5-years
The lending institution responsible for providing the loan was natixis''>Natixis CIB. Joy Construction, Maddd Equities, and Drew Katz acted as the landlords in the transaction. Brad Domenico from Progress Capital served as the broker for the deal.
Players
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$97,000,000.00
Monthly NOI$646,666.67
Monthly Debt Service$613,105.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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