Urban Standard Capital Provides $20M Loan For Mixed-Use Property In Garment District
265 West 37th Street, Manhattan, New York, NY, USA
$20,000,000
$103/SF
Building Size
193,090 SF
Asset Type
Mixed-use
Closing
Jan 14, 2021
About this deal
AI
Located in the Garment District, 265 West 37th Street recently underwent a closed transaction. The mixed-use property was the subject of this deal, involving a loan amount of $20,000,000. The property's address, 265 West 37th Street, played a significant role in this transaction.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $20,000,000
- Market: Garment District
- Landlord: Meyer Equities
- Lender: Urban Standard Capital - Seth Weissman, Charlie Brosens, and Sam Hollander
Urban Standard Capital, represented by Seth Weissman, Charlie Brosens, and Sam Hollander, served as the lending entity in this closed deal. Any debt or equity opportunities related to the property can be directed to Charlie Brosens at [email protected] or Sam Hollander at [email protected].
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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93