Northwind Group Provides $27.3M Condo Inventory & Bridge Loan For NoMad Mixed-Use Property
128 E 28th St, Manhattan, New York, NY, USA
$27,300,000
$1,066/SF
Building Size
25,588 SF
Asset Type
Mixed-use
Closing
Oct 1, 2021
AI
Located in NoMad, the property involved in this transaction is a mixed-use asset with multiple components. It consists of a residential condominium with at-grade retail space and a multifamily property, covering a total of 25,588 square feet. The address of the property is 128 East 28th St. and 109 East 29th St.
Summary of transation details:
- Property Type: Mixed-Use (Residential Condominium with At-Grade Retail property and Multifamily property)
- Transaction Amount: $27,300,000
- Market: NoMad
- Lender: Northwind Group - Ran Eliasaf & Gabriel Hamani
- Landlord: Sinha Development - Charlie Sinha
- Broker: Yosef Zavulunov - Even Funding LLC
The Northwind Group, represented by Ran Eliasaf and Gabriel Hamani, provided a loan of $27,300,000 for this transaction. The loan type includes a Condo Inventory & Bridge Loan. Sinha Development, led by Charlie Sinha, owns the property as the landlord. Yosef Zavulunov from Even Funding LLC served as the broker in this deal.
Please contact 📧 [email protected] with opportunities.
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
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93