The Zucker Organization Secures $24 Million Refinance For Retail Condo At 30 East 85th Street
30 East 85th Street
$24,000,000
$685/SF
Building Size
35,000 SF
Asset Type
Condo
Closing
Aug 9, 2024
About this deal
AI
The property asset involved is a fully leased 35,000-square-foot retail condo located at 30 East 85th Street in the Upper East Side market of Manhattan. The transaction is a refinancing deal amounting to $24,000,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $24,000,000
- Address: 30 East 85th Street
- Market: Upper East Side
- Landlord: The Zucker Organization
- Loan Type: Refinance
- Brokers: Andrew McNulty, Jeffrey Moroch, Scott A. Singer & Kevin Swartz - Avison Young
Avison Young played a pivotal role in securing the $24-million refinancing for The Zucker Organization in this transaction. This collaborative effort highlights the involvement of brokers Andrew McNulty, Jeffrey Moroch, Scott A. Singer, and Kevin Swartz in facilitating the deal.
On the Map
$24,000,000
$685/SF
Condo
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93