CRE8 Equities Secures $5.5 Million Refinance Loan From Hanmi Bank For SoHo Retail Condo
180 6th Avenue
$5,500,000
$373/SF
Building Size
14,717 SF
Asset Type
Condo
Closing
May 26, 2026
About this deal
AI
The property asset involved in this transaction is a retail condo located at 180 6th Avenue in the SoHo market of Manhattan. The condo encompasses a total square footage of 14,717 and is part of CRE8 Equities' portfolio.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $5,500,000
- Lender: Hanmi Bank
- Landlord: Sheng Zeng - CRE8 Equities
- Loan Type: Refinance
- Previous Loan Amount: $4,000,000
- Previous Lender: Emerald Creek Capital
- Acquisition Amount: $7,300,000
- Acquisition Date: November 2024
Sheng Zeng represents CRE8 Equities in this refinancing deal, which replaces an earlier loan and supports the ongoing financial strategy for their retail condo investment. The transaction showcases the involvement of New Way Holdings IV LLC in securing the refinancing loan.
Players
New York Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93