JTRE Holdings Secures $20M Loan For Mixed-Use Property In Midtown East
FINANCED
$20,000,000
New York
See Similar DealsMixed-use17,418 SF
Financed
FINANCED
JTRE Holdings Secures $20M Loan For Mixed-Use Property In Midtown East
1004 2nd Avenue, Manhattan, New York, NY, USA
See Similar DealsMixed-use17,418 SF
Financed
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1148
Total Square Footage:17418 SF
Transaction Type:Loan
The property involved in this transaction is a mixed-use asset located at 1004 2nd Ave in the Midtown East market. It encompasses a total of 17,418 square feet and has secured a loan amount of $20,000,000. The loan is structured with a fixed term of 10 years.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $20,000,000
- Square Footage: 17,418
- Address: 1004 2nd Ave
- Market: Midtown East
- Lender: Peapack Gladstone
- Landlord: Jack Terzi - JTRE Holdings
- Broker: Morris Dweck - ABS Altman Warwick
- Loan Terms: 10 Years Fixed
Key individuals in this transaction include Jack Terzi, representing the landlord, and Morris Dweck, acting as the broker. Their roles were instrumental in the arrangement and execution of the loan agreement for the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,000,000.00
Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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