Otera Capital Provides $89.4M Refinance Loan For Nomad Development Site And Multifamily Property - Richard A.C. Coles & Gary M. Tischler - Vanbarton Group
270 5th Avenue, Manhattan, New York, NY, USA
$89,377,270
$2,097/SF
Building Size
42,610 SF
Asset Type
Mixed-use
Closing
Aug 25, 2021
About this deal
AI
A development site and mixed-use multifamily property located at 270 5th Avenue and 20 & 22 West 30th Street in the Nomad market has recently undergone a loan refinance. The property spans a total of 42,610 square feet and is owned by Richard A.C. Coles & Gary M. Tischler of Vanbarton Group.
Summary of transaction details
- Property Type: Development Site, Mixed-use & Multifamily
- Loan Amount: $89,377,270
- Lender: Otera Capital
- Landlord: Richard A.C. Coles & Gary M. Tischler - Vanbarton Group
Otera Capital provided the loan for this refinance transaction. Richard A.C. Coles & Gary M. Tischler, representing the Vanbarton Group as landlords, initiated the loan refinance for their development site and mixed-use multifamily property in the vibrant Nomad market.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Visit Gary M. Tischler to view all their deals.
Browse New York mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93