Time Equities Refinances Condo Inventory Loan At 50 West Street In Tribeca For $30M
FINANCED
$30,000,000
New York
See Similar Deals450,000 SF
Financed 04/19/2018
FINANCED
Time Equities Refinances Condo Inventory Loan At 50 West Street In Tribeca For $30M
50 West St, New York, NY 10006, USA
See Similar Deals450,000 SF
Financed 04/19/2018
Summary
NEW YORK
Price Per Square Foot:$66
Total Square Footage:450,000 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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