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 BankLender
New York Co-Op Market Snapshot
Boundary boundary · Co-Op · Loan transactions
Loading comparables…
Deal FAQ
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