facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Mixed Use

/

Loan

/

114 Crosby Street

Maxim Capital, Sabal Investment Holdings & GDSNY Refinance Chelsfield & RAM Holdings' Soho Property For $50M
FINANCEDMixed-use

Maxim Capital, Sabal Investment Holdings & GDSNY Refinance Chelsfield & RAM Holdings' Soho Property For $50M

114 Crosby Street

$50,000,000

$347/SF

Building Size

144,000 SF

Asset Type

Mixed-use

Closing

Jul 17, 2024

AI

The property located at 114 Crosby Street in the SoHo market is a mixed-use asset comprising 144,000 square feet. The transaction involves a refinance loan amounting to $50 million. The property is currently undergoing redevelopment and has been newly renovated as a class-A boutique office space.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $50,000,000
  • Address: 114 Crosby Street
  • Market: Soho
  • Asset Size: 144,000 SF
  • Lender: Maxim Capital, Sabal Investment Holdings & GDSNY
  • Landlord: Chelsfield & RAM Holdings
  • Loan Type: Refinance

The financing will facilitate further tenant fit-outs and support the lease-up process of the 12-story building. Key individuals involved in the transaction include Alan Rudikoff, Jason Bordenick, Michael Kirchmann, Adam Glick, and Tal Seder, who are associated with the financing entities.

Players

Jason Bordenick

Maxim Capital Group

Lender

$418.2M

vol

12 deals

Lender
Maxim Capital Group
Maxim Capital GroupLender
GDSNY
GDSNY Lender

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

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93