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215 East 19th Street

Updated Dec 20, 2023

G4 Capital Partners Provides $232.5M Loan For Gramercy Resi Condo Inventory
FINANCEDCondo

G4 Capital Partners Provides $232.5M Loan For Gramercy Resi Condo Inventory

215 East 19th Street

$232,500,000

$49,143/SF

Building Size

4,731 SF

Asset Type

Condo

Closing

Dec 1, 2020

About this deal

AI

215 East 19th Street, located in the Gramercy market, was recently involved in a closed transaction. The property is a residential condominium, consisting of 122 units. The deal involved a loan of $232,500,000 and was secured by the Chetrit Group, represented by Joe Chetrit, and Clipper Equity, represented by David Bistricer. The lenders in this transaction were Robyn Sorid and Jason Behfarin of G4 Capital Partners. Galaxy Capital Solutions served as the brokers for the deal.

Summary of transaction details:

  • Property Type: Residential Condo
  • Transaction Amount: $232,500,000
  • Address: 215 East 19th Street
  • Market: Gramercy
  • Loan: 122 Unit Condo Inventory Loan

The key individuals and companies involved in this deal include Robyn Sorid and Jason Behfarin from G4 Capital Partners, who provided the loan. The property was secured by Joe Chetrit of the Chetrit Group and David Bistricer of Clipper Equity. In this transaction, Galaxy Capital Solutions acted as the brokers.

On the Map

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$232,500,000

$49,143/SF

Condo

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Players

G4 Capital Partners
G4 Capital PartnersLender
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New York Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

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Deal FAQ

About $49.1K per square foot on a published $232.5M for 4,731 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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