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49 Chambers Street, Manhatt...

Chetrit Group Secures $90.75M Loan For Residential Condo At 49 Chambers Street
FINANCED

Chetrit Group Secures $90.75M Loan For Residential Condo At 49 Chambers Street

49 Chambers Street, Manhattan, New York, NY, USA

$90,750,000

$4,796/SF

Building Size

18,919 SF

Asset Type

Closing

Dec 23, 2020

AI

Located in the trendy Tribeca neighborhood, the residential condo at 49 Chambers Street recently underwent a significant transaction. On December 24, 2020, a loan was secured for the property, with an impressive amount of $90,750,000 provided by Axos Bank and Silverstein Capital Partners. The Chetrit Group, the landlord of the condo, played a pivotal role in this transaction.

Summary of transaction details:

  • Property Type: Residential Condo
  • Transaction Amount: $90,750,000
  • Lender: Axos Bank & Silverstein Capital Partners
  • Landlord: Chetrit Group

Larry Silverstein, Joseph Chetrit, and Tal Kerret were the key individuals involved in this real estate deal. However, no additional information is available regarding their specific roles or affiliations related to this transaction.

Players

Silverstein Capital Partners
Silverstein Capital PartnersLender
Axos Bank
Axos BankLender
Chetrit Group
Chetrit GroupLandlord

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

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93