David Kramer Of The Hudson Companies And Jeff T. Blau Of Related Companies Secure $185M Refinance Loan
430 Main Street
$185,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 26, 2026
AI
Two multifamily properties located at 430 Main Street and 480 Main Street in Roosevelt Island, Manhattan, were refinanced for a total loan amount of $185,000,000. The properties encompass a total of 571 units and span approximately 457,289 square feet.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $185,000,000
- Lender: Wells Fargo
- Lender: Roosevelt Island Operating Corporation
- Landlord: David Kramer - The Hudson Companies
- Landlord: Jeff T. Blau - Related Companies
- Loan Type: Refinance
The refinancing deal involved key stakeholders, including David Kramer and Jeff T. Blau, who represent The Hudson Companies and Related Companies, respectively. Both firms secured the refinancing from Wells Fargo and Roosevelt Island Operating Corporation to bolster their multifamily assets on Roosevelt Island.
Players
Corinth MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93