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Related Companies, Hudson Companies Secure $63M Refinance Loan For 480 Main Street Multifamily

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FINANCED
$63,000,000
Dustin Stolly
Christopher (Chris) Kramer
Jordan (Jordy) Roeschlaub
+ 4

New York

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MultiFamily146,000 SF
Financed 06/09/2023
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FINANCED

Related Companies, Hudson Companies Secure $63M Refinance Loan For 480 Main Street Multifamily

480 Main St New York, NY 10044

See Similar Deals
MultiFamily146,000 SF
Financed 06/09/2023
Dustin Stolly
Christopher (Chris) Kramer
Jordan (Jordy) Roeschlaub
+ 4
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$431
Total Square Footage:146,000 SF
Transaction Type:Loan

The multifamily property located at 480 Main Street in New York City has undergone a refinancing transaction. The property spans approximately 146,000 square feet and consists of 214 units. The loan amount for this refinance is $63,000,000.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $63,000,000
  • Address: 480 Main Street
  • Market: New York City
  • Loan Type: Refinance

The loan for this transaction was provided by SMBC, with Hiro Otsuka serving as the lender. The landlords involved in this deal are Related Companies, represented by Stephen Ross, Bruce Beal, and Jeff Blau, as well as Hudson Companies, represented by David Kramer.

The brokers who facilitated this transaction were Jordan Roeschlaub, Dustin Stolly, and Chris Kramer from Newmark.

Players

Dustin Stolly
Walker & Dunlop
Dustin Stolly
264 deals$49.1B volume
BROKER
Christopher (Chris) Kramer
Newmark
Christopher Kramer
112 deals$21.8B volume(212) 850-5472
BROKER
Jordan (Jordy) Roeschlaub
Newmark
Jordan Roeschlaub
321 deals$96.2B volume
BROKER
Sumitomo Mitsui Banking Corporation (SMBC)
Sumitomo Mitsui Banking Corporation (SMBC)
LENDER
Stephen Ross
Hudson Companies
Stephen Ross
47 deals$5.2B volume
LANDLORD
Jeff Blau
Hudson Companies
Jeff Blau
26 deals$18B volume
LANDLORD
DK
Hudson Companies
David Kramer
11 deals$678.8M volume
LANDLORD
Bruce Beal
Related Companies
Bruce Beal
5 deals$453.1M volume
LANDLORD

Details

FINANCED
IMAGE: Stephen Ross, Hiro Otsuka, Jeff Blau, Bruce Beal, David Kramer, Dustin Stolly, Jordan Roeschlaub & Chris Kramer DATE: 06/09/2023 ADDRESS: 480 Main Street MARKET: New York City ASSET TYPE: Multifamily ~ SF: 146,000 ~ UNITS: 214 LENDER: SMBC - Hiro Otsuka LANDLORD: Related Companies (@RelatedCos) (@RelatedCompanies)- Stephen Ross, Bruce Beal & Jeff Blau; Hudson Companies (@HudsonCompanies) - David Kramer BROKERS: Jordan Roeschlaub (@JordyRoeschlaub), Dustin Stolly & Chris Kramer - Newmark (@Newmark) LOAN AMOUNT: $63,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$63,000,000.00

Monthly NOI$420,000.00
Monthly Debt Service$398,202.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00