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450 11th Ave, New York, NY,...

Shaya Sonnenschein(Meridian Capital Group) Secures $88M Loan For 450 11th Ave, New York
FINANCED

Shaya Sonnenschein(Meridian Capital Group) Secures $88M Loan For 450 11th Ave, New York

450 11th Ave, New York, NY, 10018

$88,000,000

Building Size

Asset Type

Closing

Nov 22, 2023

AI

The property located at 450 11th Ave, New York, NY, 10018, was involved in a recent loan transaction. The loan amount for this property was $88,000,000.00. The borrower's representative in this deal was Shaya Sonnenschein from Meridian Capital Group, while the lender was Mack Real Estate Group. The property is situated in the bustling market of New York.

Summary of transation details:

  • Property Type: Not specified
  • Transaction Amount: $88,000,000.00
  • Address: 450 11th Ave, New York, NY, 10018
  • Market: New York
  • Borrower's Rep: Shaya Sonnenschein (Meridian Capital Group)
  • Lender: Mack Real Estate Group

In this transaction, Shaya Sonnenschein represented the borrower in securing the $88,000,000.00 loan from Mack Real Estate Group for the property at 450 11th Ave, New York, NY, 10018. This deal highlights the collaboration between Meridian Capital Group and Mack Real Estate Group in the New York market.

Players

Shaya Sonnenschein

AANDAR Real Estate Capital

Broker

$538.7M

vol

7 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage
Mack Real Estate Group
Mack Real Estate GroupLender

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

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93