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164 Bowery, New York City, ...

Raven Capital Management Provides $60.5M Loan For Mixed-Use Properties In Nolita
FINANCEDMixed-use

Raven Capital Management Provides $60.5M Loan For Mixed-Use Properties In Nolita

164 Bowery, New York City, New York 10012, United States

$60,454,299

$839/SF

Building Size

72,000 SF

Asset Type

Mixed-use

Closing

Aug 30, 2022

AI

The mixed-use property located at 164 Bowery, 162 Bowery, and 166 Bowery in Nolita has been involved in a closed transaction. The property spans approximately 72,000 square feet, offering a diverse range of uses in a highly sought-after location.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $60,454,299
  • Address: 164 Bowery, 162 Bowery, and 166 Bowery
  • Market: Nolita
  • Loan Date: 08/31/2022

Raven Capital Management (Raven & Company) provided the loan for this transaction. The landlord involved in the deal is Mark A. Seigel and Brandon Klein. The loan amount of $60,454,299 indicates the significant investment made in this property.

Players

Raven Capital Management (Raven & Company)
Raven Capital Management (Raven & Company)Lender

Mark A. Seigel

Landlord

$74.5M

vol

2 deals

Landlord

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

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93