Churchill Real Estate Acquires Residential Property At 809 Madison Avenue For $40M
809 Madison Avenue, New York, NY 10065, USA
$40,000,000
$1,250,000/SF
Building Size
32 SF
Asset Type
Co-Op
Closing
Aug 20, 2019
About this deal
AI
809 Madison Avenue, a residential property, was recently involved in a closed transaction. The deal took place on 08/21/2019 and the property consists of 32 units. The loan amount for this transaction was $40,000,000. The property is located on Madison Avenue, known for its prime location and desirable residential market.
Summary of transaction details
- Property Type: Residential
- Transaction Amount: $40,000,000
- Units: 32
- Address: 809 Madison Avenue
The lender for this transaction was Keysite Capital Partners. The mortgage broker involved in the deal was Ronnie Levine and Thomas Wayda from @MERIDIAN.CAPITAL.GROUP. Churchill Real Estate, represented by Justin Ehrlich (@JweBroke), served as the sponsor. These key individuals and companies played crucial roles in facilitating the loan for the residential property on Madison Avenue.
Players
New York Co-Op Market Snapshot
Boundary boundary · Co-Op · Loan transactions
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Deal FAQ
About $1.3M per square foot on a published $40M for 32 square feet (2019).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93