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229 233 East 21st Street

Updated May 21, 2025

Peak Capital Advisors Secures $21.5M Refinance Loan For Mixed-Use Property In Gramercy Park
FINANCEDMixed-use

Peak Capital Advisors Secures $21.5M Refinance Loan For Mixed-Use Property In Gramercy Park

229 233 East 21st Street

$21,500,000

$597/SF

Building Size

36,012 SF

Asset Type

Mixed-use

Closing

Apr 30, 2025

About this deal

AI

This mixed-use property is located at 229-233 East 21st Street in the Gramercy Park area of Manhattan. The asset encompasses a total square footage of 36,012 and comprises 48 units. The transaction involved a refinance with a loan amount of $21,500,000 provided by Starwood Property Trust.

Summary of transaction details:

The refinancing was secured by Nineteen Blocks on behalf of Peak Capital, indicating the involvement of Michael Lohan, Mitch Uris, and Evan Gaines as broker representatives. For any equity and debt needs nationwide, inquiries can be directed to [email protected].

On the Map

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$21,500,000

$597/SF

Mixed-use

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Players

Mitch Uris

Broker

$91.5M

vol

7 deals

Broker
Michael Lohan
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Michael Lohan

Nineteen Blocks

Broker

$680.3M

vol

16 deals

Broker
ST
Starwood Property TrustLender
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New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Deal FAQ

About $597 per square foot on a published $21.5M for 36,012 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.74%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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