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Global Asset Properties Secures $10.8M Refinance Loan From Citibank For Manhattan Properties
FINANCED
$10,800,000
New York
See Similar DealsCondo20,808 SF
Financed 01/16/2026
FINANCED
Global Asset Properties Secures $10.8M Refinance Loan From Citibank For Manhattan Properties
40 Rector Street & 485 7th Avenue New York
See Similar DealsCondo20,808 SF
Financed 01/16/2026
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$519
Total Square Footage:20,808 SF
Transaction Type:Loan
Two properties involved in the transaction are located at 40 Rector Street and 485 7th Avenue in Manhattan, which include a total square footage of 10,404. Global Asset Properties secured a refinancing loan for these properties amounting to $10,800,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $10,800,000
- Market: Manhattan
- Lender: Citibank
- Landlord: Albert Rabizadeh - Global Asset Properties
- Loan Type: Refinance
- Loan Date: 01/16/2026
This refinancing deal was executed with Citibank representing the lender. The transaction involved four Manhattan properties, incorporating both office and retail spaces under the management of Global Asset Properties, led by landlord Albert Rabizadeh.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,800,000.00
Monthly NOI$72,000.00
Monthly Debt Service$68,263.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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