Valley National Bank Provides $29.5M Loan For East Harlem Specialty Building
41 East 129th Street, New York City, New York 10035, United States
$29,500,000
$614,583/SF
Building Size
48 SF
Asset Type
—
Closing
Oct 21, 2022
AI
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.
Players
New York CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93