FINANCED
Rockrose Development's Affiliate Secures $293M Loan For Lyra Apartment Building At 555 West 38th Street
555 West 38th Street
MultiFamily
Financed 144 days ago
Summary
Loan
NEW YORK
MultiFamily
Rockrose Development, an affiliate of Richard Brancato, has secured a $293 million permanent loan for the Lyra, a 51-story, 590-unit apartment building located at 555 West 38th Street in Hudson Yards. The loan was provided by Wells Fargo, the Delegated Underwriting and Servicing (DUS) lender.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $293,000,000
- Units: 590
- Loan Lender: Wells Fargo
- Landlord: Richard Brancato - Affiliate of Rockrose Development
- Brokers: Andrew Singer, Kathleen McSharry & Scott Singer - Avison Young
This latest transaction reflects the ongoing relationship between Rockrose and Avison Young. The five-year fixed-rate Fannie Mae loan provided by Wells Fargo will contribute to the continued development and success of the Lyra apartment building.
Players
Details
FINANCED
IMAGE: Andrew Singer, Richard Brancato, Scott Singer & Kathleen McSharry
DATE: 12/13/2023
ADDRESS: 555 West 38th Street
MARKET: Hudson Yards
ASSET TYPE: MultiFamily ~ UNITS: 590
LENDER: Wells Fargo (@WellsFargo)
LANDLORD: Richard Brancato - Affiliate of Rockrose Development
BROKERS: Andrew Singer, Kathleen McSharry & Scott Singer - Avison Young (@Avison_Young_Global)
LOAN AMOUNT: $293,000,000
NOTE: Rockrose Development's affiliate secured a $293 million permanent loan for the Lyra, a 51-story, 590-unit apartment building at 555 West 38th Street. Wells Fargo, the Delegated Underwriting and Servicing (DUS) lender, provided the five-year fixed-rate Fannie Mae loan, marking the latest in a longstanding relationship between Rockrose and Avison Young.View on map
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Address555 West 38th Street
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