Signature Bank Provides $20M Loan For Commercial Condo At 521 West 57th Street, Midtown West
FINANCED
$20,000,000
New York
See Similar Deals3,683,030 SF
Financed 04/14/2020
FINANCED
Signature Bank Provides $20M Loan For Commercial Condo At 521 West 57th Street, Midtown West
521 W 57th St, New York, NY 10019, USA
See Similar Deals3,683,030 SF
Financed 04/14/2020
Summary
NEW YORK
Price Per Square Foot:$5
Total Square Footage:3,683,030 SF
Transaction Type:Loan
The commercial condo located at 521 West 57th Street in Midtown West has been involved in a recent loan transaction. The loan was provided by Signature Bank for a total amount of $20,000,000. The property spans over 368,303 square feet.
Summary of transaction details:
- Property Type: Commercial condo
- Transaction Amount: $20,000,000
- Address: 521 West 57th Street
- Market: Midtown West
- Lender: Signature Bank
- Landlord: Himmel + Meringoff Properties
- Square Footage: 368,303
In this loan transaction, Signature Bank provided the funds for the commercial condo located at 521 West 57th Street in Midtown West. Himmel + Meringoff Properties, the landlord, was involved in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,000,000.00
Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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