Hudson Companies obtained financing of $50M from Starwood Property Mortgage

Hudson Companies through the entity Cadman Associates LLC as borrower signed a loan agreement with lender Starwood Property Mortgage, L.L.C. valued at $50.0 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 280 Cadman Plaza West in Brooklyn. The deal closed on June 15, 2017 and was recorded on September 03, 2019.

This $50 million is part of an original $280 million in financing reported in 2017. The last time the property sold was June 15, 2017, for $52,000,000.

Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $100. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $8,012,614.There has been one new building permit application totaling 294,379 square feet. Those plans include a total of 134 residential or hotel units. 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
A recent story on the property. link.

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