Emerald Creek Capital Provides $5.3M Bridge Loan For Midtown East Condo
323 E 52nd St, New York, NY, 10022
$5,300,000
Building Size
—
Asset Type
Condo
Closing
Nov 22, 2023
About this deal
AI
The property involved in the transaction is a newly constructed 8,028 square foot boutique condominium building located at 323 E 52nd St, New York, NY, 10022. The asset consists of four luxury residences, including a 3-bedroom triplex with a private garden and balcony, two full-floor 2-bedroom units with private balconies, and a 4-bedroom penthouse with two private balconies and a rooftop garden.
Summary of transation details:
- Property Type: Condo
- Transaction Amount: $5,300,000.00
- Market: New York
The loan for this property was provided by Emerald Creek Capital in June of 2019. The loan amount was for $5,300,000.00 and was secured by the luxury residential building in Midtown East, New York. The lender's representative in this deal was Associate Director from Timbercreek Capital.
On the Map
$5,300,000
Condo
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93