Heller Realty Secures $12.5 Million Refinance From Citibank For 17 Retail And Storage Properties
340 West 57th Street
$12,500,000
$732/SF
Building Size
17,060 SF
Asset Type
Condo
Closing
Oct 16, 2026
About this deal
AI
The asset involved in this transaction is a retail condominium located at 340 West 57th Street, Hell’s Kitchen, Manhattan, encompassing a square footage of 17,060. The property is part of a portfolio consisting of 17 retail and storage properties refinanced for a significant amount.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $12,500,000
- Lender: Citibank
- Landlord: Adam Heller - Heller Realty
- Loan Type: Refinance
Key individuals involved in this transaction include Adam Heller, who represents Heller Realty as the landlord in the refinancing deal with Citibank for the specified properties, including the retail condominium.
On the Map
$12,500,000
$732/SF
Condo
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93