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
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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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