Valley National Bank Provides $32M Loan For Mixed-Use Property In Harlem, Manhattan
1440 Amsterdam Avenue, New York City, New York 10027, United States
$32,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Oct 12, 2022
About this deal
AI
Located at 1440 Amsterdam Avenue in Harlem, Manhattan, this mixed-use property has recently been involved in a closed transaction. The property, which boasts a prime location in the bustling market of Harlem, offers a versatile space that combines commercial and residential units.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $32,000,000
- Address: 1440 Amsterdam Avenue, Harlem, Manhattan
- Market: Harlem, Manhattan
Valley National Bank served as the lender in this transaction, providing a loan amount of $32,000,000. The landlord entities involved in the deal are Grid Group, represented by Spyridon Papakonstadinou, and Cityscapes Realty, represented by Yiannes Einhorn.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93