Adi Chugh Of Maverick Commercial Properties Arranges $90M Loan For Gramercy Park Condominium
359 2nd Ave, New York, NY 10010, USA
$90,000,000
$15,528/SF
Building Size
5,796 SF
Asset Type
—
Closing
Jun 24, 2019
About this deal
AI
The condominium located at 359 Second Avenue in Gramercy Park has recently been involved in a closed property transaction. The transaction, which took place on June 25, 2019, involved the following individuals and companies:
Summary of transaction details
- Property Type: Condominium
- Transaction Amount: $90,000,000
- Lender: Och-Ziff Capital Management Group and Michael Dell – MSD Partners
- Landlord: Josh Schuster – @SilverbackDevelopment
- Broker: Adi Chugh – Maverick Commercial Properties
The lenders involved in the transaction were Och-Ziff Capital Management Group and Michael Dell from MSD Partners. Josh Schuster, the landlord, represented Silverback Development. Adi Chugh, from Maverick Commercial Properties, acted as the broker in the deal.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
Loading comparables…
Deal FAQ
Visit Adi Chugh to view all their deals.
Browse New York loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93