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

Property Image
FINANCED
$21,500,000
Evan Gaines

New York

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Mixed-use36,012 SF
Financed 04/30/2025
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Property Image
FINANCED

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

229 233 East 21st Street

See Similar Deals
Mixed-use36,012 SF
Financed 04/30/2025
Evan Gaines
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$597
Total Square Footage:36,012 SF
Transaction Type:Loan

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].

Players

7 deals$91.5M volume
BROKER

Michael Lohan
15 deals$643.3M volume
BROKER

Evan Gaines
Nineteen Blocks
4 deals$77.5M volume(646) 592-1252
BROKER

LENDER

Details

FINANCED
IMAGE: Michael Lohan & Evan Gaines DATE: 5/1/2025 ADDRESS: 229-233 East 21st Street MARKET: Gramercy Park, Manhattan ASSET TYPE: Mixed-use ~ SF: 36,012 ~ UNITS: 48 LENDER: Starwood Property Trust LANDLORD: Peak Capital Advisors (@PeakCapitalRE) BROKERS: Michael Lohan (@MikeLohan), Mitch Uris & Evan Gaines - Nineteen Blocks (@NineteenBlocks) ATTORNEY: Bryan Anderson (@BryanAndersonLaw) - Anderson Law LOAN AMOUNT: $21,500,000 LOAN TYPE: Refinance NOTE FROM BROKER: On behalf of Peak Capital, Nineteen Blocks secured a $21.5m refinance for a another boutique luxury property in Peak's portfolio. Please contact [email protected] for any equity & debt needs nationwide.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$21,500,000.00

Monthly NOI$143,333.33
Monthly Debt Service$135,894.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00