FINANCEDRetail
Bank Of China Provides $23M Loan For Retail Property In Yorkville
1683 3rd Ave, New York, Ny 10128, Usa
$23,000,000
$1,019/SF
Building Size
22,563 SF
Asset Type
Retail
Closing
Apr 15, 2020
AI
Gao Yingxin image was captured on 04/15/2020 at 1683 Third Avenue in the Yorkville market. The property is a retail asset with a total of 2 units and a size of 22,563 square feet.
Summary of transaction details
- Property Type: Retail
- Loan Amount: $23,000,000
- Lender: Bank of China
- Landlord: CL Investment Group
The deal involved Bank of China as the lender providing a loan of $23,000,000. CL Investment Group acted as the landlord in this transaction.
Players
CG
CL Investment GroupLandlord
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93