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100 Franklin Street, New Yo...

Urban Standard Capital Provides $16M Refinance Loan For Tribeca Condo Property On Franklin Street
FINANCED

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:

For all bridge and construction lending opportunities, you can reach out to Charlie ([email protected]) and Robert ([email protected]), according to @USC_NYC.

Players

Ari Hirt

Walker & Dunlop

Broker

$3.1B

vol

28 deals

Broker
Urban Standard Capital
Urban Standard CapitalLender

New York CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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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