Northwind Group Provides $19M Bridge Loan For Condo In Lower East Side
165 Chrystie Street, Manhattan, New York, NY 10002, USA
$19,000,000
$1,187/SF
Building Size
16,000 SF
Asset Type
—
Closing
Oct 28, 2021
About this deal
AI
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].
On the Map
$19,000,000
$1,187/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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93