Titan Capital Provides $10 Million Bridge Loan For Mixed-Use Property At 135 West 18th Street
135 West 18th Street
$10,000,000
$162/SF
Building Size
61,500 SF
Asset Type
Mixed-use
Closing
Aug 13, 2024
AI
The property asset is located at 135 West 18th Street in Chelsea, Manhattan. It is a mixed-use asset with a total square footage of 61,500. The loan amount secured for this asset is $10,000,000, under a bridge loan type with a term of 12 months.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $10,000,000
- Loan Type: Bridge
- Loan Terms: 12 Month Bridge Loan
- Lender: David Saferstein, Ira Saferstein, Matthew Job & Zach Waldman - Titan Capital
- Broker: Nicholas Aversa - Charles Martin Mortgage
- Date of Transaction: 08/13/2024
The key individuals involved in this transaction include the lenders from Titan Capital: David Saferstein, Ira Saferstein, Matthew Job, and Zach Waldman. The broker representing the deal is Nicholas Aversa from Charles Martin Mortgage.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93