Ekstein Development Group Secures Loan For For Sale Condo's At 140 West 81st Street, Manhattan
140 W 81st St, New York, NY 10024, USA
$20,000,000
$1,719/SF
Building Size
11,633 SF
Asset Type
—
Closing
Mar 29, 2018
About this deal
AI
The property at 140 West 81st Street in Manhattan, NY is being offered for sale as condo units. The development was undertaken by Ekstein Development Group, led by Erik Ekstein. The transaction was financed through a loan provided by S3 Capital, with Robert Schwartz serving as the lender. The brokerage firm HFF played a role in the deal, with Peter Rotchford, Chris Peck, and Rob Hinckley representing the parties involved.
Summary of transaction details
- Property Type: For Sale Condo's
- Lender: S3 Capital - Robert Schwartz
- Broker: HFF - Peter Rotchford, Chris Peck, Rob Hinckley
- Developer: Ekstein Development Group - Erik Ekstein
The individuals and companies involved in this transaction include Erik Ekstein from Ekstein Development Group as the developer, Robert Schwartz from S3 Capital as the lender, and representatives from HFF - Peter Rotchford, Chris Peck, and Rob Hinckley. The deal highlights the collaboration between these key players in the real estate market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93