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128 E 28th St, Manhattan, N...

Northwind Group Provides $27.3M Condo Inventory & Bridge Loan For NoMad Mixed-Use Property
FINANCEDMixed-use

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

Yosef Zavulunov

Broker

$30.3M

vol

2 deals

Broker
Northwind Group
Northwind GroupLender

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