Debt Transactions
T30 Capital originates bridge loans collateralized by multifamily, mixed-use, hospitality and other property types with a focus on high quality real estate in the Northeast and other strategic high-growth markets. T30, formerly known as Fort Amsterdam Capital, has closed over 60 loans since launching in 2015.
Tribeca Portfolio, Manhattan, NY
T30 Capital, through its predecessor lending entity, Fort Amsterdam Capital, provided a $42.5 million loan secured by a portfolio of properties in the Tribeca neighborhood of Manhattan.The sponsor will utilize loan proceeds to complete the sellout or residential condominium units, finalize construction plans and undertake other work to reposition the site.
Moxy Hotel Wynwood, Miami, FL
T30 Capital, through its predecessor lending entity, Fort Amsterdam Capital, provided a $39 million loan secured by the Moxy Wynwood Hotel in Miami. Loan proceeds will be used to complete construction of the Property and open the hotel. Moxy Wynwood Miami is a 120 key, newly built full-service hotel located in the heart of the Wynwood neighborhood of Miami, FL.
Ridgedale Commons, Morristown, NJ
T30 Capital, through its predecessor lending entity, Fort Amsterdam Capital, provided a $11.02 million loan to Ridgedale Commons, a 29-unit multifamily property located in Morristown, New Jersey. The Property is under construction with a certificate of occupancy expected in Q1 2025.
195 Chrystie, Manhattan, NY
T30 Capital, through its predecessor lending entity, Fort Amsterdam Capital, provided a $16.52 million loan secured by 195 Chrystie Street, a nine-story creative office building located in the Lower East Side of Manhattan. The Sponsor will utilize loan proceeds to execute work necessary to obtain a certificate of occupancy.
212 West 93rd Street, Manhattan, NY
T30 Capital, through its predecessor lending entity, Fort Amsterdam Capital, made a loan secured by 212 West 93rd Street, a newly-constructed, 14-story, 20-unit luxury residential condominium, located in the Upper West Side neighborhood of Manhattan, New York.
The loan refinanced the construction loan and provided the Borrower with sufficient capital to carry the property through the condominium sales process. The Sponsor is a best-in-class developer with significant experience in the market.
475 Washington Avenue, Brooklyn, NY
T30, through its predecessor lending entity, Fort Amsterdam Capital, made a loan secured by 475 Washington Avenue, located in the Clinton Hill neighborhood of Brooklyn. 475 Washington is a six-story, pre-war residential property consisting of 60 units totaling 65,220 square feet, 41 storage units and one parking space. The building is a designated landmark by the NYC Landmarks Commission and is one of only two pre-war residential doorman condominiums with an elevator in Clinton Hill, making this an extremely unique product offering.
475 Washington Avenue was operated as a rental building until mid-2019 and is being converted into a for-sale residential condominium. T30 Capital’s loan facilitates the Sponsor’s business plan to renovate the building, convert to condominium and sell out the units. The property is well-located in Brooklyn with in-demand unit sizes and affordable price points.
The Pridwin Hotel, Shelter Island, NY
The Pridwin Hotel is a historic boutique hotel located on 8-acres of waterfront property on Shelter Island, New York. The Property is the largest hotel on Shelter Island, overlooks the Peconic River, and is one of a handful of resorts on the east end of Long Island that have approximately 50 keys or more.
T30 Capital, through its predecessor lending entity, Fort Amsterdam Capital, provided a first-mortgage bridge loan to finance the recapitalization and renovation of the hotel. The Sponsor’s business plan is to transform the hotel into a full-service luxury resort featuring enlarged guestrooms, a spa and fitness center, a modernized lobby, and an enhanced restaurant and lounge that overlooks the Peconic River. The conversion is expected to be completed for a grand opening in June 2022. The Sponsor has extensive experience in the market and a successful track record of renovating and operating boutique hotels.
SoHo & Water Mill Portfolio
T30 Capital provided a first mortgage bridge loan collateralized by two well-located, mixed-use properties in the SoHo neighborhood of Manhattan and a newly-constructed, high-end single-family speculative home in Water Mill, New York.
The loan proceeds were used to refinance the Borrower’s existing loans and provide the Borrower with ample time to sell the single-family home as well as the capital necessary to roll the mixed-use tenants to market. The Sponsor is a seasoned real estate investor who owns several assets across the Greater New York City Area.
170 Java Street, Brooklyn, NY
T30 Capital, through its predecessor lending entity, Fort Amsterdam Capital, provided a first mortgage construction loan collateralized by 170 Java Street in the Greenpoint neighborhood of Brooklyn, New York. Once developed, the property will feature a four-story, six-unit, boutique residential condominium consisting of 5,616 net sellable square feet.
The loan refinanced the acquisition loan and will fund the remaining construction costs. The Sponsor is a local developer that has extensive experience and a successful track record of developing multifamily properties in the Greater New York City market.
233 Newark Avenue, Jersey City, NJ
T30 Capital, through its predecessor lending entity, Fort Amsterdam Capital, made a loan secured by 233 Newark Avenue, a five-story, mixed-use building totaling 25,459 gross square feet and comprised of 16 residential units, one commercial unit and four parking spaces. The property is located in a high growth neighborhood in Jersey City, New Jersey.
T30’s loan facilitated a cash neutral refinancing of the existing construction loan with additional funding to complete the construction of the property. As of closing, the Sponsor intended to utilize the loan to complete construction of the project, stabilize the property, and refinance the loan with a long-term bank loan.