Criterion Real Estate Capital Provides $130M Loan For Resi Condo In Hell's Kitchen
615 10th Avenue
$130,000,000
$1,176/SF
Building Size
110,500 SF
Asset Type
Condo
Closing
Jan 15, 2021
About this deal
AI
The residential condominium located at 615 10th Avenue in Hell's Kitchen has recently been involved in a closed transaction. The property, spanning an area of 110,500 square feet, was the subject of a loan provided by Criterion Real Estate Capital.
Summary of transaction details
- Property Type: Residential Condominium
- Transaction Amount: $130,000,000
- Address: 615 10th Avenue, Hell's Kitchen
- Market: Hell's Kitchen
The loan was secured by the XIN Development Group International, the landlord of the property. The deal was facilitated by Dustin Stolly, Jordan Roeschlaub, and Daniel Fromm from Newmark.
Note: No additional information on the property or the individuals involved in the transaction was provided.
Players
New York Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93