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143 Chambers Street

Maspeth Federal Savings & Loan Association Provides $5.7M Refinance Loan For Tribeca Mixed-Use Property
FINANCEDMixed-use

Maspeth Federal Savings & Loan Association Provides $5.7M Refinance Loan For Tribeca Mixed-Use Property

143 Chambers Street

$5,700,000

$527/SF

Building Size

10,800 SF

Asset Type

Mixed-use

Closing

Dec 16, 2022

AI

A mixed-use property located at 143 Chambers Street in the Tribeca neighborhood of Manhattan has recently undergone a refinancing transaction. The property, with a total square footage of 10,800, is spread across 14,333 buildable square feet. Its prime location in Tribeca makes it a sought-after asset in the market.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $5,700,000
  • Address: 143 Chambers Street
  • Market: Tribeca, Manhattan
  • Buildable Square Footage: 14,333
  • Total Square Footage: 10,800

Maspeth Federal Savings & Loan Association, represented by Lisa J. Masone, has provided the loan for this refinancing deal. The loan amount totals $5,700,000. Maguire Capital Group, led by Marvin Azrak, acts as the landlord of the property. The transaction marks a significant step for both the lender and the landlord, providing them with favorable financial terms and ensuring the stability and future success of the property.

Players

Marvin Azrak

Maguire Capital

Landlord

$111.8M

vol

9 deals

Landlord

Sydney Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.78%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93