Madison Realty Capital Provides $48M Loan For Office Building At 3 St. Mark's Place, East Village
FINANCED
$48,000,000
National
See Similar DealsFinanced 11/01/2019
FINANCED
Madison Realty Capital Provides $48M Loan For Office Building At 3 St. Mark's Place, East Village
3 St Marks Pl, New York, NY 10003, USA
See Similar DealsFinanced 11/01/2019
Summary
Transaction Type:Loan
Josh Zegen provided an image of the property located at 3 St. Mark's Place in the East Village market. The asset is an office space with a total square footage of 68,224.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $48,000,000
- Lender: Madison Realty Capital
- Landlord: Real Estate Equities Corporation
- Loan Amount: $48,000,000
- Additional Financing: $31,100,000
Hana, represented by Madison Realty Capital, issued a $48 million senior loan to Real Estate Equities Corporation (REEC). Additionally, Hana provided $31.1 million in mezzanine financing to REEC, bringing the total amount lent by Hana to $79.1 million.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$48,000,000.00
Monthly NOI$320,000.00
Monthly Debt Service$303,392.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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