250 West 49th Street
This is a $115 million bridge loan on a 138-unit multifamily asset in Midtown Manhattan's Clinton/Hell's Kitchen corridor, originated by Dwight Capital — a well-established HUD and bridge lender with a strong track record in large multifamily transactions across major metros. At roughly $833,000 per unit, the loan reflects elevated per-unit leverage for a Midtown multifamily asset, which warrants scrutiny around stabilization status and exit strategy given the bridge loan structure. Dwight Capital's Jack Tawil has closed over $364 million across 5 transactions, indicating meaningful institutional volume and repeat execution capacity. Midtown Manhattan multifamily fundamentals remain solid with low vacancy and continued rental demand, though the bridge loan designation suggests the asset may be in a transitional or lease-up phase, introducing execution risk. Overall, the deal presents moderate-to-solid credit quality anchored by a reputable lender and a supply-constrained submarket, tempered by the bridge nature of the financing and high per-unit loan exposure.
Deal Stats
Parties
No party information available for this deal.
Score Analysis
What this score means
A Grade B score indicates this deal qualifies for financing at up to 70% LTV, subject to full underwriting. Most deals at this level proceed to a term sheet within 2 business days.
Why this score
Lender Track Record
Dwight Capital's $364M+ multifamily volume and Jack Tawil's 5-transaction execution history demonstrates institutional capacity and repeat deal-making in major metros.
High Per-Unit Leverage
At $833K per unit on a $115M bridge loan, the leverage ratio is elevated relative to Midtown market norms, signaling potential stress on underwriting assumptions or asset stabilization.
Bridge Loan Structure
Bridge designation implies transitional or lease-up phase with execution risk tied to stabilization timeline and refinance availability, not permanent debt.
Submarket Fundamentals
Clinton/Hell's Kitchen remains supply-constrained with low vacancy and sustained rental demand, providing market-level support for asset value and lease absorption.
Information Opacity
Missing buyer/seller identity, loan amount confirmation, and stabilization metrics limits diligence depth and confidence in underwriting quality.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Clarify Stabilization Status
Obtain lease-up timeline, current occupancy %, and rent-roll to validate bridge exit strategy and refinance feasibility within 2-3 year window.
Benchmark Per-Unit Leverage
Compare $833K/unit to recent Midtown comparable transactions and debt service coverage ratios to confirm pricing is within market and pro forma assumptions are conservative.
Validate Lender Recourse
Confirm guarantor strength, recourse scope, and borrower equity cushion to de-risk Dwight Capital's downside exposure in a refinance slowdown scenario.
