NYCB Provides $9.25M Loan For West Village Resi Condo/Co-Op On 14th Street
226 W 14th St, New York, NY 10011, USA
$9,250,000
$711/SF
Building Size
13,000 SF
Asset Type
—
Closing
Jul 8, 2020
About this deal
AI
A loan of $9,250,000 was secured for the commercial condominium located at 222 West 14th Street in the West Village. The property is a residential condo/co-op with a total area of 13,000 square feet.
Summary of transation details
- Property Type: Resi Condo / Co-Op
- Transaction Amount: $9,250,000
- Loan Terms: 3.5% fixed rate, 7-year term
- Lender: NYCB
- Landlord: Sackman Enterprises
- Brokers: Simon Rosenfeld, David Ostrov, Jeff Weinberg of Meridian Capital Group
The loan was secured through NYCB, with Simon Rosenfeld, David Ostrov, and Jeff Weinberg from Meridian Capital Group acting as the brokers in the deal.
Note: The property is a commercial condominium, with the first two...
On the Map
$9,250,000
$711/SF
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93