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30 East 31st Street, New Yo...

Man Global Private Markets Provides $62M Loan For Condo In NoMad
FINANCED

Man Global Private Markets Provides $62M Loan For Condo In NoMad

30 East 31st Street, New York, NY, USA

$62,000,000

$3,090/SF

Building Size

20,065 SF

Asset Type

Closing

Dec 23, 2019

AI

The condominium located at 30 East 31st Street in the NoMad neighborhood has been involved in a recent closed transaction. The property is a condo unit with a total of 42 units. The deal involved a loan amount of $62,000,000. The lender in this transaction was Man Global Private Markets. The landlords of the property include Ekstein Development, DeMatteis Organization, and Pinnacle Group. The deal was facilitated by brokers Max Herzog, Marko Kazanjian, and Matt Fagella.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $62,000,000
  • Address: 30 East 31st Street
  • Market: NoMad

This transaction showcases the collaboration between various parties in the real estate industry. The lenders, Man Global Private Markets, provided the substantial loan amount for the deal to proceed. The landlords involved in this transaction are Ekstein Development, DeMatteis Organization, and Pinnacle Group. Additionally, the brokers Max Herzog, Marko Kazanjian, and Matt Fagella played a crucial role in facilitating this closed transaction.

Players

Marko Kazanjian

Institutional Property Advisors

Broker

$5.4B

vol

71 deals

Broker
Man Global Private Markets
Man Global Private MarketsLender

New York CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93