Parke Bank Provides $22.45M Refinance Loan For Mixed-use Property In Midtown East
122 East 58th Street, New York City, New York 10022, United States
$22,450,000
$946/SF
Building Size
23,712 SF
Asset Type
Mixed-use
Closing
Mar 16, 2022
About this deal
AI
The property at 122 East 58th Street in Midtown East has been involved in a recent transaction. The mixed-use asset has a total square footage of 23,712 and is located in a prime market area.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $22,450,000
- Address: 122 East 58th Street
- Market: Midtown East
- Lender: Parke Bank
- Landlord: Mosdot Shuva Israel ✡️ BH
- Loan Type: Refinance
The lender involved in the transaction is Parke Bank. The landlord, Mosdot Shuva Israel ✡️ BH, was also a key player in this deal. The loan amount for the transaction was $22,450,000, and it was a refinancing loan.
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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93