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Jeff Sutton's Wharton Properties Secures $20 Million Refinancing Loan From US Century Bank For SoHo Co-Op
FINANCED
$20,000,000
New York
See Similar DealsCo-Op
Financed 08/09/2024
FINANCED
Jeff Sutton's Wharton Properties Secures $20 Million Refinancing Loan From US Century Bank For SoHo Co-Op
101 Wooster Street
See Similar DealsCo-Op
Financed 08/09/2024
Summary
NEW YORK
Asset Type:Co-Op
Transaction Type:Loan
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
LENDER
Details
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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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