JP Morgan Chase Provides $6.3 Million Refinance Loan For Mixed-Use Property In East Village
19 Clinton Street
$6,300,000
$157/SF
Building Size
40,000 SF
Asset Type
Mixed-use
Closing
Nov 14, 2024
AI
The asset involved in this transaction is a mixed-use property located at 19 Clinton Street in the East Village, encompassing a total of 40,000 square feet. The transaction primarily entails a refinance loan for the amount of $6,300,000 facilitated by JP Morgan Chase.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,300,000
- Address: 19 Clinton Street
- Market: East Village
- Lender: JP Morgan Chase
- Brokers: Zev Feder & Daniel Neiss - Meridian Capital Group
- Loan Type: Refinance
The transaction involves brokers Zev Feder and Daniel Neiss, who represent the interests of the parties involved, ensuring a smooth refinancing process through their affiliation with Meridian Capital Group.
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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93