Time Equities Refinances Condo Inventory Loan At 50 West Street In Tribeca For $30M
50 West St, New York, NY 10006, USA
$30,000,000
$66/SF
Building Size
450,000 SF
Asset Type
—
Closing
Apr 18, 2018
About this deal
AI
The recently closed property transaction involves the refinancing of a residential condominium inventory loan located at 50 West Street in Tribeca, Manhattan, NY. The property, developed by Time Equities and Francis Greenburger, features a total area of 450,000 square feet.
Summary of transaction details
- Property Type: Residential Condominiums
- Transaction Amount: $30,000,000
- Developer: Time Equities - Francis Greenburger
- Lender: MidFirst Bank - G. Jeffrey Records, Jr.
- Address: 50 West Street, Tribeca, Manhattan, NY
G. Jeffrey Records, Jr. from MidFirst Bank played a crucial role in financing the transaction. On the other hand, Francis Greenburger represented the developer, Time Equities, in the deal. This successful refinancing marks an important milestone in the real estate market.
On the Map
$30,000,000
$66/SF
View full map
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
Loading comparables…
Deal FAQ
Browse New York loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93