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10 South Street, New York C...

Acore Capital Provides $100M Refinancing Loan For Casa Cipriani In Battery Park
FINANCEDMixed-use

Acore Capital Provides $100M Refinancing Loan For Casa Cipriani In Battery Park

10 South Street, New York City, New York, United States

$100,000,000

$681/SF

Building Size

146,800 SF

Asset Type

Mixed-use

Closing

May 11, 2022

AI

Casa Cipriani, a mixed-use property located at 10 South St. in Battery Park, has been involved in a recent loan transaction. The property spans approximately 146,800 square feet and consists of 47 keys. The transaction took place on 05/12/2022.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $100,000,000
  • Address: 10 South St. - Casa Cipriani
  • Market: Battery Park
  • Key Details: 47 keys

The loan for this transaction was provided by Acore Capital. The owners of the property, Midtown Equities, Centaur Properties, and Cipriani, sought the assistance of brokers from Walker & Dunlop, including Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Mo Beler.

This refinancing deal represents a significant milestone for Casa Cipriani in Battery Park. The involvement of prominent individuals and companies, such as Acore Capital and Walker & Dunlop, adds further credibility to the transaction.

Players

Aaron Appel

Walker & Dunlop

Broker

$33.8B

vol

202 deals

Broker
Acore Capital
Acore CapitalLender
Midtown Equities
Midtown EquitiesLandlord
C
CiprianiLandlord

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.16%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93