Ready Capital Provides $37.7M Acquisition Loan For Mixed-Use Property At 159-161 West 54th Street In New York City
FINANCED
$37,710,000
New York
See Similar DealsMixed-use85,000 SF
Financed 08/22/2023
FINANCED
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
See Similar DealsMixed-use85,000 SF
Financed 08/22/2023
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$443
Total Square Footage:85,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$37,710,000.00
Monthly NOI$251,400.00
Monthly Debt Service$238,352.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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