Kriss Capital Provides $185M Loan For 135 East 47th Street Condo Inventory
135 East 47th Street
$185,000,000
$987/SF
Building Size
187,329 SF
Asset Type
Condo
Closing
Mar 28, 2024
About this deal
AI
The property involved in the transaction is a Condo located at 135 East 47th Street in Turtle Bay, Manhattan. The asset comprises 191 units with a total square footage of 187,329.
Summary of transation details:
- Property Type: Condo
- Transaction Amount: $185,000,000
- Market: Turtle Bay, Manhattan
- Lender: Kriss Capital
- Landlord: Navigation Capital
- Broker: Scott Aiese - JLL
- Loan Type: Condo Inventory Financing
The deal's key individuals and companies involved in this transaction include Scott Aiese from JLL who represented the interested parties in securing the $185,000,000 loan from Kriss Capital for the Condo property in Turtle Bay, Manhattan. Navigation Capital acted as the landlord in this financing deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93