Valley National Bank Provides $29.5M Loan For East Harlem Specialty Building
FINANCED
$29,500,000
New York
See Similar Deals48 SF
Financed 10/21/2022
FINANCED
Valley National Bank Provides $29.5M Loan For East Harlem Specialty Building
41 East 129th Street, New York City, New York 10035, United States
See Similar Deals48 SF
Financed 10/21/2022
Summary
NEW YORK
Price Per Square Foot:$614,583
Total Square Footage:48 SF
Transaction Type:Loan
The specialty building located at 41 East 129th Street in East Harlem, Manhattan has recently undergone a closed property transaction. The building boasts a total square footage of 48,100 and a buildable square footage of 89,528.
Summary of transaction details
- Property Type: Specialty Building
- Transaction Amount: $29,500,000
- Address: 41 East 129th Street
- Market: East Harlem, Manhattan
The lender for this transaction is Valley National Bank, represented by Donald K. Secrest. The loan amount provided by the bank is $29,500,000. The landlord involved in this deal is CSC Coliving.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$29,500,000.00
Monthly NOI$196,666.67
Monthly Debt Service$186,460.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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