Updated Sep 9, 2024
Meridian Capital Group Provides $21.3M Land Loan For Mixed-Use Property At 534-54 Third Avenue, New York, NY
534 54 Third Avenue
$21,310,000
$2,157/SF
Building Size
9,876 SF
Asset Type
Mixed-use
Closing
Dec 20, 2022
About this deal
AI
The property involved in the transaction is a mixed-use asset located at 534-54 Third Avenue in New York, NY. It spans a total square footage of 9,876 and was recently closed on December 20, 2022.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $21,310,000
- Loan Type: Land Loan
- Loan Terms: There are currently two vacant buildings that are set to be demolished
- Broker: Simon Rosenfeld - Meridian Capital Group
The loan obtained for the property is in the amount of $21,310,000. It is classified as a land loan. As part of the transaction, there are currently two vacant buildings on the property that are set to be demolished.
Narooma 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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93