Flushing Bank Provides $3.5M Loan For Mixed-Use Property In Kips Bay
201 East 26th Street, Manhattan, New York, NY, USA
$3,500,000
$747/SF
Building Size
4,685 SF
Asset Type
Mixed-use
Closing
Jul 29, 2021
AI
A mixed-use property located at 201 East 26th Street in Kips Bay has been involved in a recent transaction. The property, with an address specified, is part of the real estate market in Kips Bay.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,500,000
The loan for this transaction was provided by Flushing Bank. The landlord involved in the deal is Cypress Capital Group. The brokers responsible for representing the parties involved in the transaction are Justin Horowitz and Jeff Horowitz from CooperHorowitz LLC.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93