Updated Dec 4, 2024
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
About this deal
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.
On the Map
$6,000,000
$825/SF
Commercial
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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