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101 Wooster Street

Updated Dec 4, 2024

Jeff Sutton's Wharton Properties Secures $20 Million Refinancing Loan From US Century Bank For SoHo Co-Op
FINANCEDCo-Op

Jeff Sutton's Wharton Properties Secures $20 Million Refinancing Loan From US Century Bank For SoHo Co-Op

101 Wooster Street

$20,000,000

Building Size

Asset Type

Co-Op

Closing

Aug 9, 2024

About this deal

AI

The asset involved in this transaction is a Co-Op located at 101 Wooster Street in SoHo, Manhattan. It has recently been refinanced with a loan amount of $20,000,000 from US Century Bank.

Summary of transaction details:

  • Property Type: Co-Op
  • Transaction Amount: $20,000,000
  • Lender: Ramon Ferrar - US Century Bank
  • Landlord: Jeff Sutton - Wharton Properties
  • Loan Type: Refinance

Ramon Ferrar from US Century Bank facilitated the refinancing for Jeff Sutton’s Wharton Properties, which underscores the financial backing for the retail space at this sought-after address in the vibrant SoHo market.

Players

US Century Bank
US Century BankLender

New York Co-Op Market Snapshot

Boundary boundary · Co-Op · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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