Updated May 22, 2026
Castellan Capital Provides $28 Million Construction Loan For Residential Condo In New York
$28,000,000
$839/SF
Building Size
33,350 SF
Asset Type
MultiFamily
Closing
May 3, 2026
About this deal
AI
The transaction involves a residential condo located in New York, with a total square footage of 33,350. The loan amount secured for the property is $28,000,000, categorized under a construction loan with a term of two years.
Summary of transaction details:
- Property Type: Residential Condo
- Transaction Amount: $28,000,000
- Lender: Castellan Capital
- Loan Type: Construction
- Loan Terms: 2 Years
- Brokers: Alex Bailkin & Andrew Rosenberg - Arrow Real Estate Advisors
- Transaction Date: 5/4/2026
- Market: New York
- Asset Size: 33,350 SF
Representing the transaction are Alex Bailkin and Andrew Rosenberg, who are affiliated with Arrow Real Estate Advisors. Their expertise contributed to securing the construction loan required for the development of the property in this specific market.
Players
Market 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93