Wonder Works Construction Secures $68M Loan For Vitre Condominium Tower In Upper East Side
302 East 96th Street, New York, NY, USA
$68,000,000
$4,720/SF
Building Size
14,405 SF
Asset Type
—
Closing
Jan 13, 2019
About this deal
AI
The Vitre Condominium Tower, located at 302 East 96th Street in the Upper East Side, has recently been involved in a closed property transaction. The residential condos in this tower were the asset in this deal.
Summary of transaction details
- Property Type: Residential Condos
- Transaction Amount: $68,000,000
- Date: 01/14/2019
- Landlord/Developer: Wonder Works Construction - Eric Brody and Joseph Kleinberg
- Lender: Deutsche Bank
- Brokers: Morris Betesh & Alex Bailkin from Meridian Capital Group
Wonder Works Construction, led by Eric Brody and Joseph Kleinberg, served as the landlord and developer of the Vitre Condominium Tower during this closed transaction. The lender for this deal was Deutsche Bank. Morris Betesh and Alex Bailkin, representing Meridian Capital Group, acted as the brokers for this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93