FINANCED
Meridian Capital Group Arranges $46M Construction Loan For Development Site On 428 W. 19th Street In New York
428 West 19th Street
Development Site
Financed 1 year ago
Summary
Loan
NEW YORK
Development Site
Anbau Enterprises has secured a construction loan amounting to $46,000,000 for the development site located at 428 W. 19th Street in New York. The property, a new condominium with 32 residential units, spans a total of 42,466 net sellable square feet.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $46,000,000
- Loan Type: Construction
- Loan Terms: 375 + SOFR @ 63% LTC
Adam Hakim, Andrew Iadeluca, and James Murad from Meridian Capital Group acted as the brokers for this deal. They facilitated the arrangement of a low floating rate spread non-recourse loan for the new condominium property. Anbau Enterprises, represented by Alex Glascock and Adrienne Glascock, will oversee the development and sale of the 32 residential units.
For further information regarding this transaction, please reach out to Andrew Iadeluca directly. He can be contacted at 315-480-2540 or via email at [email protected].
Players
Details
FINANCED
IMAGE: Adam Hakim, AlexGlascock, Andrew Iadeluca, Adrienne Glascock & James Murad
DATE: 11/02/2022
ADDRESS: 428 W. 19th Street
MARKET: New York
ASSET TYPE: Development Site
LANDLORD: Anbau Enterprises - Alex & Adrienne Glascock
BROKERS: Adam Hakim, Andrew Iadeluca & James Murad - Meridian Capital Group
LOAN AMOUNT: $46,000,000
LOAN TYPE: Construction
LOAN TERMS: 375 + SOFR @ 63% LTC
NOTE FROM BROKER: We arranged a very low floating rate spread non-recourse loan for 428 W. 19th St., a new condominium property 42,466 net sellable totally 32 residential units for sale.
Please contact Andrew Iadeluca directly for further details
Phone: 315-480-2540
Email: [email protected]View on map
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Address428 West 19th Street
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