Urban Standard Capital Provides $16M Refinance Loan For Tribeca Condo Property On Franklin Street
100 Franklin Street, New York City, New York 10013, United States
$16,000,000
$716/SF
Building Size
22,336 SF
Asset Type
—
Closing
Feb 9, 2022
AI
The property involved in this transaction is a condo located at 100 Franklin Street in Tribeca. The condo has a square footage of 22,336. The loan was provided by Urban Standard Capital. Seth Weissman, Charlie Brosens, Jeremy Plofker, Robert Levine, and Bean were all involved in the loan process. The lender's representatives were Seth Weissman, Charlie Brosens, Jeremy Plofker, Robert Levine, and Bean. The landlord for the property is DDG Partners. Ari Hirt from Walker & Dunlop acted as the broker for this deal. The loan amount for this refinance loan was $16,000,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $16,000,000
- Address: 100 Franklin Street
- Market: Tribeca
- Lender: Urban Standard Capital
- Landlord: DDG Partners
- Broker: Ari Hirt - Walker & Dunlop
For all bridge and construction lending opportunities, you can reach out to Charlie ([email protected]) and Robert ([email protected]), according to @USC_NYC.
Players
New York CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93