Updated Feb 16, 2024
Bank Hapoalim Provides $66M Construction Loan For East Harlem Industrial Property
1844 Park Avenue, New York City, New York 10035, United States
$66,000,000
$620/SF
Building Size
106,460 SF
Asset Type
Industrial
Closing
Mar 3, 2022
About this deal
AI
The property involved in this closed transaction is an industrial asset located at 1844 Park Avenue in East Harlem. The property spans approximately 106,460 square feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $66,000,000
- Address: 1844 Park Avenue
- Market: East Harlem
- Lender: Bank Hapoalim
- Landlord: Artimus
- Loan Type: Construction Loan
The lender in this transaction is Bank Hapoalim, providing a construction loan of $66,000,000. The landlord involved in the deal is Artimus.
The industrial loan at 1844 Park Avenue, New York City, New York 10035, United States in New York, New York financed for $66M in 2022. The building is 106,460 square feet, implying about 620 per square foot on the published price. This page is the New York, New York file for the 1844 Park Avenue, New York City, New York 10035, United States industrial financed: pricing, party profiles, and other closed industrial comps from the same New York sit in the Market section below. Filter that New York industrial set by closing date to see what else financed near 1844 Park Avenue, New York City, New York 10035, United States around 2022. Published consideration for 1844 Park Avenue, New York City, New York 10035, United States is $66M, dated 2022. Cite this Bank Hapoalim Provides $66M Construction Loan For East Harlem Industrial Property loan when underwriting similar industrial product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93