EJS Group Secures $28M Loan For Development Site At 1303 Third Avenue In Lenox Hill
FINANCED
$28,000,000
New York
See Similar DealsDevelopment Site123,495 SF
Financed 07/19/2022
FINANCED
EJS Group Secures $28M Loan For Development Site At 1303 Third Avenue In Lenox Hill
1303 3rd Avenue, New York City, New York 10021, United States
See Similar DealsDevelopment Site123,495 SF
Financed 07/19/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$226
Total Square Footage:123,495 SF
Transaction Type:Loan
A development site in Lenox Hill has been sold for $28,000,000. The property, located at 1303 Third Avenue, spans a total of 123,495 square feet and consists of 38 units. The transaction took place on July 19, 2022. Ted Segal shared an image of the property on Instagram.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $28,000,000
- Square Footage: 123,495
- Units: 38
- Address: 1303 Third Avenue
- Market: Lenox Hill
The loan for this transaction was provided by Signature Bank. The landlord of the property is EJS Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,000,000.00
Monthly NOI$186,666.67
Monthly Debt Service$176,979.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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