Maxim Capital Group Provides $4M Note On Note Financing For Times Square Condo
1600 Broadway, Manhattan, New York, NY, USA
$4,000,000
$25/SF
Building Size
159,575 SF
Asset Type
—
Closing
May 27, 2020
AI
Located in Times Square, the residential condo at 1600 Broadway recently underwent a closed property transaction involving a loan. The deal was facilitated through Note on Note Financing, specifically NPL Acquisition. The transaction took place on May 27, 2021.
Summary of transaction details
- Property Type: Residential Condo
- Loan Amount: $4,000,000
- Market: Times Square
- Lender: Maxim Capital Group - Adam Glick & Josh Greene
- Landlord: VM Equities - Aaron Maleh
The loan, amounting to $4,000,000, was provided through Note on Note Financing by Maxim Capital Group, represented by Adam Glick and Josh Greene. On the other hand, VM Equities, represented by Aaron Maleh, acted as the landlord in this transaction.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93