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258 268 West 44th Street

Apple Bank For Savings Refinances Hell’s Kitchen Property On West 44th Street For $6.3M
FINANCEDRetail

Apple Bank For Savings Refinances Hell’s Kitchen Property On West 44th Street For $6.3M

258 268 West 44th Street

$6,334,210

$98/SF

Building Size

64,287 SF

Asset Type

Retail

Closing

Feb 27, 2023

AI

The property involved in this transaction is located at 258-268 West 44th Street in Hell’s Kitchen, Manhattan. It is a retail and office asset with a building square footage (BSF) of 150,300 and a total square footage (SF) of 64,287. The loan, which took place on February 27, 2023, was a refinance for a loan amount of $6,334,210. The lender in this transaction was Apple Bank for Savings, represented by Cynthia Wang. The landlord of the property is MacArthur Holdings, with David Katz as the representative.

Summary of transaction details

  • Property Type: Retail & Office
  • Transaction Amount: $6,334,210
  • Address: 258-268 West 44th Street
  • Market: Hell's Kitchen, Manhattan
  • BSF: 150,300
  • SF: 64,287
  • Lender: Apple Bank for Savings - Cynthia Wang
  • Landlord: MacArthur Holdings - David Katz
  • Loan Type: Refinance

The key individuals involved in this deal are Cynthia Wang, who represented Apple Bank for Savings as the lender, and David Katz, who represents MacArthur Holdings as the landlord. A loan transaction took place on February 27, 2023, with a loan amount of $6,334,210. The property located at 258-268 West 44th Street in Hell’s Kitchen, Manhattan, is a retail and office asset with a building square footage (BSF) of 150,300 and a total square footage (SF) of 64,287.

Players

David Katz

MacArthur Holdings

Landlord

$182.3M

vol

7 deals

Landlord

Saint Louis Park 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

2.50%

Cash-on-Cash

-0.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93