JTRE Holdings Secures $20M Loan For Mixed-Use Property In Midtown East
1004 2nd Avenue, Manhattan, New York, NY, USA
$20,000,000
$1,148/SF
Building Size
17,418 SF
Asset Type
Mixed-use
Closing
Oct 25, 2018
About this deal
AI
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.
On the Map
$20,000,000
$1,148/SF
Mixed-use
View full map
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Visit Morris Dweck to view all their deals.
Browse New York mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93