Spring Bank & Cornerstone Capital Of NY Provides $4M Refinance Loan For 369 W. 46th St. Mixed-Use Property In Manhattan
369 W. 46th St.
$4,000,000
Building Size
—
Asset Type
—
Closing
Sep 15, 2022
AI
A mixed-use property located at 369 W. 46th St. in Manhattan was recently involved in a closed transaction. The property spans 4,709 square feet and is situated in the bustling market of Manhattan.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Lender: Spring Bank & Cornerstone Capital of NY - Russell Nova, Alex Nemirovsky & Igor Zakh
- Landlord: James Roth Glenn
- Loan Amount: $4,000,000
- Loan Type: Refinance
- Loan Terms: 5 Year Fixed, 30 Year Term
The transaction was facilitated by Spring Bank and Cornerstone Capital of NY, with Russell Nova, Alex Nemirovsky, and Igor Zakh representing the lending institutions. The landlord involved in the deal is James Roth Glenn.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93