Elizabeth McDonald Of 387 Kings Highway LLC Secures $6M Refinance Loan In Tribeca
408 Greenwich Street
$6,000,000
$825/SF
Building Size
7,273 SF
Asset Type
Commercial
Closing
May 22, 2024
AI
The property involved in the transaction is a retail and commercial condo with a total area of 7,273 square feet located at 408 Greenwich Street in Tribeca, Manhattan. The loan amount for this refinance deal was $6,000,000 provided by Interaudi Bank.
Summary of transaction details:
- Property Type: Retail & Commercial Condo
- Transaction Amount: $6,000,000
- Market: Tribeca, Manhattan
- Address: 408 Greenwich Street
- Lender: Interaudi Bank
- Landlord: Elizabeth McDonald
- Landlord's Representative: 387 Kings Highway LLC
Elizabeth McDonald, represented by 387 Kings Highway LLC, successfully secured a $6 million refinance loan from Interaudi Bank for two properties, which include retail and commercial condominium units at 408 Greenwich Street in Tribeca, Manhattan.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93