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HUBB NYC Secures $56M Refinance From M&T Bank For Manhattan Condo Portfolio
FINANCED
$56,000,000
New York
See Similar DealsCondo219,408 SF
Financed 08/21/2025
FINANCED
HUBB NYC Secures $56M Refinance From M&T Bank For Manhattan Condo Portfolio
20 East 35th Street, 101 East 87th Street & 155 East 38th Street
See Similar DealsCondo219,408 SF
Financed 08/21/2025
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$255
Total Square Footage:219,408 SF
Transaction Type:Loan
HUBB NYC has secured a refinancing loan for thirteen properties located at 20 East 35th Street, 101 East 87th Street, and 155 East 38th Street in Manhattan, encompassing a total of 73,136 square feet of built space and an additional 11,885 square feet of air rights.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $56,000,000
- Lender: M&T Bank
- Landlord: John P McCarthy - HUBB NYC
- Loan Type: Refinance
John P McCarthy, representing HUBB NYC, was instrumental in facilitating this refinancing arrangement, handling the negotiations with M&T Bank for the portfolio of properties in Manhattan.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$56,000,000.00
Monthly NOI$373,333.33
Monthly Debt Service$353,958.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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