KKR & Co. Provides $185M Construction Loan For 66 Hudson Blvd In Manhattan Hudson Yards Area
66 Hudson Boulevard East
Building Size
2,200,000 SF
Asset Type
Office
Closing
Apr 24, 2023
About this deal
AI
KKR & Co. has provided a $185 million loan to fund the construction of the 2.2 million-square-foot office building located at 66 Hudson Blvd in Manhattan's Hudson Yards area. This loan is the largest written in New York City last month.
Summary of transaction details:
- Property Type: Office building
- Transaction Amount: $185 million
- Loan Type: Construction
- Address: 66 Hudson Blvd, Manhattan, New York City
- Market: Hudson Yards area
The loan was provided by KKR & Co. to support the construction of the 2.2 million-square-foot office building at 66 Hudson Blvd. This significant financial support will contribute to the development of this property in the Hudson Yards area of Manhattan.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93