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
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