facebook
Traded Co logo
Submit
Daily limit: 0/10

School Of Visual Arts Secures $13.6M Refinance Loan For Gramercy Women's Residence

Property Image
FINANCED
$13,616,291

New York

See Similar Deals
Hotel
Financed 08/18/2023
the dealplayerscompscontact
Property Image
FINANCED

School Of Visual Arts Secures $13.6M Refinance Loan For Gramercy Women's Residence

17 Gramercy Pk S, New York, NY 10003, United States

See Similar Deals
Hotel
Financed 08/18/2023
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Hotel
Transaction Type:Loan

The School of Visual Arts, represented by Chelgram Holding Corporation, has secured a refinancing loan worth $13.6 million for the Gramercy Women's Residence at 17 Gramercy Park South in Manhattan. The loan was provided by Lakeland Bank.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $13,616,291
  • Address: 17 Gramercy Park South, Gramercy, Manhattan
  • Market: Gramercy, Manhattan
  • Lender: Lakeland Bank
  • Landlord: School of Visual Arts - David Rhodes

This refinance deal involves the Gramercy Women's Residence located at 17 Gramercy Park South in Manhattan. The property, currently owned by the School of Visual Arts and represented by Chelgram Holding Corporation, has secured a refinancing loan of $13.6 million from Lakeland Bank. This loan will enable the School of Visual Arts to optimize their financial position and continue providing top-notch accommodation services for the Gramercy Women's Residence.

Players

Lakeland Bank
Lakeland Bank
LENDER

Details

FINANCED
IMAGE: David Rhodes DATE: 08/18/2023 ADDRESS: 17 Gramercy Park South (The Gramercy Women's Residence) MARKET: Gramercy, Manhattan ASSET TYPE: Hotel LENDER: Lakeland Bank (@lakelandbank) LANDLORD: School of Visual Arts (@svanyc) - David Rhodes LOAN AMOUNT: $13,616,291 LOAN TYPE: Refinance NOTE: The School of Visual Arts, represented by Chelgram Holding Corporation, secured a refinancing loan worth $13.6 million from Lakeland Bank for the Gramercy Women’s Residence at 17 Gramercy Park South in Manhattan.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$13,616,291.00

Monthly NOI$90,775.27
Monthly Debt Service$86,064.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00