National Cooperative Bank Provides $500K Refinance Loan For Lenox Hill Co-Op Property
345 East 61st Street
$500,000
$57/SF
Building Size
8,710 SF
Asset Type
Co-Op
Closing
Sep 27, 2023
About this deal
AI
The property involved in this loan transaction is a Co-Op located at 345 East 61st Street in the Lenox Hill neighborhood of Manhattan. The property spans 8,710 square feet and is owned by an undisclosed party. The transaction took place on the date of September 27, 2023.
Summary of transaction details:
- Property Type: Co-Op
- Loan Amount: $500,000
- Loan Type: Refinance
- Lender: National Cooperative Bank
- Brokers: Anthony Zachariadis & Zach Zachariadis - TZM Realty Properties
Leading the deal's brokerage efforts were Anthony Zachariadis and Zach Zachariadis of TZM Realty Properties. They facilitated the loan refinance on behalf of the undisclosed owner of the Co-Op property.
Players
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
31.73%
Cash-on-Cash
-9.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93