Maxim Capital Group Refinances Condos At 721 Fifth Avenue AKA @TrumpTower For $7.5M
Trump Tower, 5th Avenue, Manhattan, New York, NY, USA
$7,500,000
$1,082/SF
Building Size
6,926 SF
Asset Type
—
Closing
Oct 26, 2021
AI
Located at 721 Fifth Avenue, also known as @TrumpTower, this transaction involved the refinancing of three luxurious condos in Midtown Manhattan. The condos have a combined square footage of 6,926 and are part of a prestigious building in a prime location.
Summary of transaction details:
- Property Type: Condos
- Transaction Amount: $7,500,000
- Address: 721 Fifth Avenue, Midtown Manhattan
- Market: Midtown Manhattan
The lender in this refinancing deal was Maxim Capital Group. Representing the borrower were Cary Pollack and Judah Neuman from Meridian Capital Group.
Players
New York CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93