Ready Capital Provides $37.7M Acquisition Loan For Mixed-Use Property At 159-161 West 54th Street In New York City
159 W 54th St New York, Ny 10019, Usa
$37,710,000
$443/SF
Building Size
85,000 SF
Asset Type
Mixed-use
Closing
Aug 22, 2023
AI
The property involved in this transaction is a mixed-use asset located at 159-161 West 54th Street in New York City. The property has a total square footage of 85,000 and is situated in a prime market area.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $37,710,000
- Address: 159-161 West 54th Street, New York City
- Market: New York City
The lender in this acquisition loan is Ready Capital. The loan amount for this transaction is $37,710,000. The loan type is acquisition, indicating that it is specifically for the purpose of acquiring the property.
The brokers involved in this deal are Michael Lee from HKS Real Estate Advisors. Michael Lee represented HKS Real Estate Advisors in this transaction.
Players
Street 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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93