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240 Elizabeth Street, New Y...

S3 Capital Partners Provides $4M Acquisition Loan For Mixed-Use Property In NoLita
FINANCEDMixed-use

S3 Capital Partners Provides $4M Acquisition Loan For Mixed-Use Property In NoLita

240 Elizabeth Street, New York City, New York 10012, United States

$4,000,000

$638/SF

Building Size

6,269 SF

Asset Type

Mixed-use

Closing

Jan 11, 2022

AI

The property asset involved in the transaction is located at 240 Elizabeth St. in the NoLita market. It is a mixed-use property with a square footage of 6,570 and a loan amount of $4,000,000 secured for acquisition purposes.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $4,000,000
  • Address: 240 Elizabeth St.
  • Market: NoLita
  • Lender: S3 Capital Partners
  • Lender Representatives: Steven Jemal & Rob Schwartz
  • Landlord: David Habif & Lenny Sporn
  • Loan Type: Acquisition

The individuals involved in the deal include Steven Jemal and Rob Schwartz, who represent the lenders from S3 Capital Partners, while the landlords, David Habif and Lenny Sporn, are the counterparts in this transaction.

Players

Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker
S3 Capital
S3 CapitalLender
Lenny Sporn

Lenny Sporn

Habif Real Estate

Landlord

$336.1M

vol

11 deals

Landlord

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

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93