HFZ Capital Group Secures $22.8M Loan For Condo In Grand Central | Allied Capital & Development Is Lender
16 West 40th Street, New York City, New York 10018, United States
$22,800,000
$789/SF
Building Size
28,863 SF
Asset Type
—
Closing
Jun 27, 2022
About this deal
AI
The property involved in this closed transaction is a condo located at 16 West 40th Street in the Grand Central market. It spans a total square footage of 28,863 and comprises 14 units. The asset type is condominium.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $22,800,000
- Address: 16 West 40th Street
- Market: Grand Central
- Square Footage: 28,863
- Units: 14
The lender for this transaction is Allied Capital & Development. The landlord involved in this deal is HFZ Capital Group.
On the Map
$22,800,000
$789/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93