Ken Cayre Of Cayre Equities Refinances Industrial Building In Harlem With Voya Financial For $22.3M
119 West 145th Street
$22,300,000
$225/SF
Building Size
98,800 SF
Asset Type
Industrial
Closing
Apr 3, 2025
AI
The industrial asset located at 119 West 145th Street in Harlem comprises 98,800 square feet. It underwent a refinancing process, where the previous loan of $24 million from Santander Bank was replaced by a new loan amounting to $22.3 million from Voya Financial.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $22,300,000
- Address: 119 West 145th Street
- Market: Harlem, Manhattan
- Lender: Voya Financial
- Landlord: Ken Cayre - Cayre Equities
- Loan Type: Refinance
Ken Cayre represents Cayre Equities in this refinancing deal, providing insight into the management behind this transaction. The refinancing was strategically executed to adjust the financial framework of the property.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93