Updated Jun 20, 2025
F&K Properties Management Refinances Medical Office At 589 11th Avenue For $5.6M
589 11th Avenue
$5,600,000
Building Size
—
Asset Type
Medical Office
Closing
Jun 10, 2025
About this deal
AI
The asset involved in the transaction is a medical office located at 589 11th Avenue in Hell’s Kitchen, Manhattan. The property was refinanced with a loan amount of $5,600,000 provided by Hudson Valley Credit Union, replacing prior debt from Gazivoda Realty.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $5,600,000
- Lender: Hudson Valley Credit Union
- Landlord: Fation Syla - F&K Properties Management
- Loan Type: Refinance
- Date of Transaction: 06/10/2025
- Market: Hell’s Kitchen, Manhattan
F&K Properties Management, represented by Fation Syla, successfully secured refinancing for the property, facilitating the transition of the loan from Gazivoda Realty to Hudson Valley Credit Union.
On the Map
$5,600,000
Medical Office
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Players
New York Medical Office Market Snapshot
Boundary boundary · Medical Office · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93