Parkview Financial Provides $70 Million Construction Loan For Mixed-Use Property In Greenwich Village
1 Saint Mark's Place, New York City, New York 10003, United States
$70,000,000
$1,154/SF
Building Size
60,661 SF
Asset Type
Mixed-use
Closing
Jun 2, 2022
AI
The mixed-use property located at 1 & 3 St. Marks Place in Greenwich Village, Manhattan, was recently involved in a closed transaction. The property spans a total of 60,661 square feet and features a combination of residential and commercial spaces.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Date: 06/03/2022
- Image: Paul Rahimian
- Market: Greenwich Village, Manhattan
- Loan Amount: $70,000,000
- Lender: Parkview Financial - Paul Rahimian
- Landlord: Real Estate Equities Corporation
- Broker: Anthony Ledesma - Hodges Ward Elliott
The loan for this transaction was provided by Parkview Financial, with Paul Rahimian overseeing the lending process. The landlord in this deal was Real Estate Equities Corporation. Anthony Ledesma from Hodges Ward Elliott represented the parties involved as the broker.
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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93