Naftali Group Secures $120.4M Loan From Bank Hapoalim For Resi Condo Development On Madison Avenue
1039 Madison Ave, New York, NY 10075, USA
$120,400,000
$15,636/SF
Building Size
7,700 SF
Asset Type
—
Closing
Jul 10, 2019
About this deal
AI
The Naftali Group has completed the purchase of the property located at 1039-1045 Madison Avenue on the Upper East Side. The property is a residential condominium development project.
Summary of transaction details:
- Property Type: Residential Condo Development
- Transaction Amount: $120,400,000
- Lender: Bank Hapoalim
- Landlord: Naftali Group
The acquisition was financed by a loan of $120,400,000 from Bank Hapoalim. Miki Naftali, the CEO of the Naftali Group, represented the buyer in this transaction.
The commercial loan at 1039 Madison Ave, New York, NY 10075, USA in New York, New York financed for $120.4M in 2019. The building is 7,700 square feet, implying about 15.6K per square foot on the published price. This page is the New York, New York file for the 1039 Madison Ave, New York, NY 10075, USA commercial financed: pricing, party profiles, and other closed commercial comps from the same New York sit in the Market section below. Filter that New York commercial set by closing date to see what else financed near 1039 Madison Ave, New York, NY 10075, USA around 2019. Published consideration for 1039 Madison Ave, New York, NY 10075, USA is $120.4M, dated 2019. Cite this Naftali Group Secures $120.4M Loan From Bank Hapoalim For Resi Condo Development On Madison Avenue loan when underwriting similar commercial product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93