G4 Capital Partners Provides $38M Construction Loan For Mixed-Use Property In SoHo, Manhattan
182 Spring Street, New York City, New York 10012, United States
$38,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Sep 13, 2022
About this deal
AI
A mixed-use property located at 182-186 Spring Street in SoHo, Manhattan has been involved in a recent closed transaction. The property is known for its prime location in the vibrant neighborhood of SoHo. The transaction took place on September 14, 2022, and the property is owned by SK Development, represented by Scott Shnay from CB Developers & Madison Realty Capital.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $38,000,000
- Lender: G4 Capital Partners
- Landlord: SK Development - Scott Shnay, CB Developers & Madison Realty Capital
- Date: September 14, 2022
G4 Capital Partners provided a construction loan amounting to $38,000,000 for the development of the property. The loan type was specifically arranged for construction purposes, contributing to the enhancement and potential expansion of the mixed-use asset at 182-186 Spring Street.
On the Map
$38,000,000
Mixed-use
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Players
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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93