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738 Greenwich Street

Alf Naman Real Estate Secures $24.6 Million Refinancing Loan From Marathon Asset Management
FINANCEDIndustrial

Alf Naman Real Estate Secures $24.6 Million Refinancing Loan From Marathon Asset Management

738 Greenwich Street

$24,600,000

Building Size

Asset Type

Industrial

Closing

Dec 3, 2024

AI

The industrial property located at 738 Greenwich Street in the West Village, Manhattan, has been refinanced with a loan amount of $24,600,000. This transaction was completed on December 3, 2024, indicating the asset's significant market presence.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: $24,600,000
  • Lender: Bruce Richards - Marathon Asset Management
  • Landlord: Alfred David Naman - Alf Naman Real Estate
  • Loan Type: Refinance
  • Date of Transaction: December 3, 2024

Alf Naman Real Estate facilitated the refinancing process for the industrial building, working directly with Marathon Asset Management to secure the funding necessary for this transaction. Bruce Richards from Marathon Asset Management acted as the lender in this deal.

Players

Marathon Asset Management
Marathon Asset ManagementLender

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

0.64%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93