Adam America Real Estate, Hampshire Properties borrow $90M from Michael Dell’s MSD Partners for new construction in the Upper West Side

Adam America Real Estate and Hampshire Properties through the entity UWS Aa Bsd LLC as borrower signed a construction loan agreement with lender Michael Dell’s MSD Partners through the entity MSD Pcof Partners X, LLC valued at $90 million for 2463 Broadway in the Upper West Side. The deal closed on December 31, 2019 and was recorded on January 15, 2020.

Adam America and Hampshire recently acquired air rights for this development, for $22 million.

This is the second new construction project MSD has provided debt for in December. The other is a Silverback Development project in Gramercy.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link