RFR Holding Secures $92.1 Million Refinance Loan For Manhattan Condo Units
25 5th Avenue New York, New York 10003, USA
$92,060,584
Units
145
Asset Type
Condo
Closing
May 3, 2023
About this deal
AI
This transaction involves a refinancing loan secured by RFR Holding for 145 unsold residential condominium units located at 25 Fifth Avenue, 28 East 10th Street, 219 West 81st Street, and 530 Park Avenue in Manhattan. The loan amount is $92,060,584.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $92,060,584
- Units: 145
- Lender: M&T Bank
- Landlord: RFR Holding - Richard Froom
- Market: Manhattan
- Loan Type: Refinance
The refinancing loan was provided by M&T Bank to support the landlord, RFR Holding, who is represented by Richard Froom. This financial arrangement focuses on enhancing the management and disposition of the unsold condominium units in the specified Manhattan locations.
Players
East Rockaway Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93