Northwind Group Provides $19M Bridge Loan For Condo In Lower East Side
FINANCED
$19,000,000
New York
See Similar Deals16,000 SF
Financed 10/28/2021
FINANCED
Northwind Group Provides $19M Bridge Loan For Condo In Lower East Side
165 Chrystie Street, Manhattan, New York, NY 10002, USA
See Similar Deals16,000 SF
Financed 10/28/2021
Summary
NEW YORK
Price Per Square Foot:$1,187
Total Square Footage:16,000 SF
Transaction Type:Loan
A bridge loan of $19,000,000 was secured for a condo property located at 165 Chrystie Street in the Lower East Side market. The condo spans approximately 16,000 square feet.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $19,000,000
- Address: 165 Chrystie Street
- Market: Lower East Side
- Asset Type: Condo
- Square Footage: 16,000
The bridge loan was provided by Northwind Group. DRK Development and Nortco Development, represented by Haim Nortman and Rony Nortman, respectively, are the property's landlords. The deal was brokered by Daniel Cohen and Tal Savariego of Meridian Capital Group.
For more information and potential opportunities, please contact [email protected].
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,000,000.00
Monthly NOI$126,666.67
Monthly Debt Service$120,092.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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