Emerald Creek Capital Provides $5.3M Bridge Loan For Midtown East Condo
FINANCED
$5,300,000
New York
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FINANCED
Emerald Creek Capital Provides $5.3M Bridge Loan For Midtown East Condo
323 E 52nd St, New York, NY, 10022
See Similar DealsCondo
Summary
NEW YORK
Asset Type:Condo
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,300,000.00
Monthly NOI$35,333.33
Monthly Debt Service$33,499.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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