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Benjamin Shaoul's Magnum Real Estate Group Secures $25 Million Loan For 20-Unit Condo In Manhattan
FINANCED
$25,000,000
New York
See Similar DealsCondo
Financed 06/28/2024
FINANCED
Benjamin Shaoul's Magnum Real Estate Group Secures $25 Million Loan For 20-Unit Condo In Manhattan
815 Broadway
See Similar DealsCondo
Financed 06/28/2024
Summary
NEW YORK
Asset Type:Condo
Transaction Type:Loan
The property asset involved in this transaction is a 20-unit condominium located at 815 Broadway in Greenwich Village, Manhattan. The construction loan secured for this project amounts to $25 million, facilitating the development of the condominium units in this prominent market.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $25,000,000
- Units: 20
- Lender: Israel Discount Bank
- Loan Type: Construction
- Landlord: Benjamin Shaoul
- Landlord's Agency: Magnum Real Estate Group
- Lender's Representatives: Elena Dokianos & Avi Lieberman
Key individuals involved in this transaction include Benjamin Shaoul, who is the landlord representing Magnum Real Estate Group, and the lender's representatives, Elena Dokianos and Avi Lieberman from Israel Discount Bank, who facilitated the construction loan for the project.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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