JPMorgan Chase Bank Provides $125M Loan For Mixed Use Property In Yorkville With RiteAid Tenant
1849 2nd Avenue, Manhattan, New York, NY, USA
$125,000,000
$1,345/SF
Building Size
92,927 SF
Asset Type
Mixed-use
Closing
Dec 22, 2021
About this deal
AI
1849 2nd Avenue, located in Yorkville, is the site of a recent closed property transaction. The asset involved in this deal is a mixed-use property which includes retail space. The retail tenant occupying the property is Rite Aid, as indicated by the Instagram post shared in the original context. The transaction took place on 12/23/2021 and was brokered by JPMorgan Chase Bank, who provided a loan amount of $125,000,000. The landlord in this deal is Ogden Cap Properties, represented by the Milstein Family.
Summary of transation details
- Property Type: Mixed use
- Transaction Amount: $125,000,000
- Address: 1849 2nd Avenue
- Market: Yorkville
- Retail Tenant: Rite Aid
- Lender: JPMorgan Chase Bank
- Landlord: Ogden Cap Properties - Milstein Family
The key individuals involved in this deal include Jamie Dimon, as pictured in the Instagram post shared in the context. However, it is important to note that the context does not specify the exact role of Jamie Dimon in this transaction. Apart from the individuals mentioned, no additional details regarding other parties or brokers were provided in the given context.
On the Map
$125,000,000
$1,345/SF
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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93