InSite Property Group Secures $42.1M Construction Loan For Industrial Property In Yorkville
424 East 90th Street, New York City, New York 10128, United States
$42,139,156
$1,452/SF
Building Size
29,004 SF
Asset Type
Industrial
Closing
Apr 5, 2022
AI
The industrial property located at 424 East 90th Street in Yorkville has been involved in a recent closed transaction. The property spans an area of 29,004 square feet and is classified as an industrial asset.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $42,139,156
- Market: Yorkville
- Lender: ACORE Capital
- Landlord: InSite Property Group
- Loan Type: Construction
The key individuals and companies involved in this transaction are ACORE Capital, who provided the loan, and InSite Property Group, who acted as the landlord. The loan amount for this construction project amounted to $42,139,156.
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93