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
New York CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
Loading comparables…
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