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252 South Street, New York ...

Bank Of America Refinances Condo At 252 South Street In Manhattan
FINANCEDCondo

Bank Of America Refinances Condo At 252 South Street In Manhattan

252 South Street, New York City, New York 10002, United States

$217,000,000

Building Size

Asset Type

Condo

Closing

Aug 11, 2022

AI

A condominium located at 252 South Street in Manhattan has recently undergone a loan refinancing transaction. The property consists of 242 units and is owned by Extell Development, represented by Marc Kwestel. The loan was provided by Bank of America, with Christine Trotter serving as the lender's representative.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $217,000,000
  • Address: 252 South Street
  • Market: Manhattan
  • Units: 242
  • Lender: Bank of America - Christine Trotter
  • Landlord: Extell Development - Marc Kwestel
  • Loan Type: Refinance

Christine Trotter, representing Bank of America, facilitated the loan refinancing. The collaboration between Extell Development and Bank of America has allowed for the successful refinancing of the condominium at 252 South Street in Manhattan.

Players

Marc Kwestel

EXTELL

Landlord

$1.6B

vol

6 deals

Landlord

New York 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

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93