ABS Partners Real Estate And Benenson Investment Company Sell Mixed-Use Property In Midtown Manhattan For $30.5M
FINANCED
$30,500,000
New York
See Similar DealsMixed-use63,000 SF
Financed 06/29/2019
FINANCED
ABS Partners Real Estate And Benenson Investment Company Sell Mixed-Use Property In Midtown Manhattan For $30.5M
145 E 57th St, New York, NY 10022, USA
See Similar DealsMixed-use63,000 SF
Financed 06/29/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$484
Total Square Footage:63,000 SF
Transaction Type:Loan
Brian Warwick of ABS Altman Warwick represented the buyer and seller in the recent closed property transaction at 145 East 57th Street in Midtown. This mixed-use building, which includes office and retail space, was sold for a sale price of $30,500,000. The property spans across 63,000 square feet and is located in the vibrant Midtown market.
Summary of transation details
- Property Type: Mixed-use - Office & Retail
- Transaction Amount: $30,500,000
- Lender: Principal Life
- Landlord: ABS Partners Real Estate and Benenson Investment Company
- Broker: Brian Warwick - ABS Altman Warwick
- Loan Terms: 10-year interest only
- SF: 63,000
The buyer, represented by Brian Warwick of ABS Altman Warwick, successfully closed the deal with the seller. The lender for this transaction was Principal Life. ABS Partners Real Estate and Benenson Investment Company served as the landlords in this transaction. The loan terms were set at 10-year interest only. This transaction highlights the expertise of Brian Warwick and the success of ABS Altman Warwick in the real estate market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,500,000.00
Monthly NOI$203,333.33
Monthly Debt Service$192,780.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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