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H.I.G. Capital Secures $51M Refinance Loan For 22 Condo Units In Financial District
FINANCED
$51,000,000
New York
See Similar DealsCondo
Financed 06/01/2023
FINANCED
H.I.G. Capital Secures $51M Refinance Loan For 22 Condo Units In Financial District
33 Park Row New York, Ny 10038, Usa
See Similar DealsCondo
Financed 06/01/2023
Summary
NEW YORK
Asset Type:Condo
Transaction Type:Loan
H.I.G. Capital has secured a refinancing loan worth $51 million from Emerald Creek Capital for 22 residential condo units located at 33-34 Park Row in the Financial District of Manhattan. The loan was obtained through ECC 33 PR LLC.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $51,000,000
- Units: 22
- Address: 33-34 Park Row
- Market: Financial District, Manhattan
Emerald Creek Capital, represented by Mark Penna, served as the lender for the loan. Meanwhile, H.I.G. Capital, represented by Ira Weidhorn, acted as the landlord in the transaction.
This refinancing deal marks an important milestone for H.I.G. Capital and demonstrates their commitment to the Financial District property market in Manhattan.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$51,000,000.00
Monthly NOI$340,000.00
Monthly Debt Service$322,354.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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