Starwood Property Trust Provides $104.41M Loan For Upper East Side Condominium Development
$105,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 14, 2025
AI
The asset involved in the context is a condominium development located in the Upper East Side market. The loan amount for this development was $104,410,551, and it is categorized under condo inventory financing.
Summary of transaction details:
- Property Type: Condominium Development
- Transaction Amount: $104,410,551
- Lender: Starwood Property Trust
- Lender's Representatives: Tom Cosenza, James Tria, Jonah Jurick & Erik Kolar Jr
- Advisors: Max Hulsh, Max Herzog, Marko Kazanjian & Andrew Cohen - Institutional Property Advisors
The transaction involved several key individuals representing various facets of the deal. The lender was Starwood Property Trust, with representatives including Tom Cosenza, James Tria, Jonah Jurick, and Erik Kolar Jr. Meanwhile, the advising team comprised Max Hulsh, Max Herzog, Marko Kazanjian, and Andrew Cohen from Institutional Property Advisors.
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93