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UBS Provides $135 Million Loan To Midtown Equities For Meatpacking District Property Refinance

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FINANCED
$135,000,000

New York

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Mixed-use87,537 SF
Financed 07/08/2025
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Property Image
FINANCED

UBS Provides $135 Million Loan To Midtown Equities For Meatpacking District Property Refinance

29 33 Ninth Avenue

See Similar Deals
Mixed-use87,537 SF
Financed 07/08/2025
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,542
Total Square Footage:87,537 SF
Transaction Type:Loan

The property asset involved in this transaction is a mixed-use building located at 29-33 Ninth Avenue in the Meatpacking District, comprising a total square footage of 87,537. The loan amount secured for this property is $135,000,000 with a loan agreement characterized by a 10-year term and a 6.44% coupon. The refinancing serves to replace an existing mortgage.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $135,000,000
  • Address: 29-33 Ninth Avenue
  • Market: Meatpacking District
  • Square Footage: 87,537
  • Lender: UBS
  • Landlord: Joseph Cayre - Midtown Equities
  • Loan Terms: 10-year loan

This transaction involved key individuals and companies including UBS as the lender and Joseph Cayre, representing Midtown Equities as the landlord managing the property. The loan allows for the refinancing of prior financial obligations tied to the asset.

Players

LENDER


Details

FINANCED
IMAGE: Joseph Cayre DATE: 07/08/2025 ADDRESS: 29-33 Ninth Avenue MARKET: Meatpacking District ASSET TYPE: Mixed-use ~ SF: 87,537 LENDER: UBS (@UBS) LANDLORD: Joseph Cayre - Midtown Equities LOAN AMOUNT: $135,000,000 LOAN TERMS: 10-year loan NOTE: UBS lent $135 million to Midtown Equities for its Meatpacking District property at 29-33 Ninth Ave., allowing the owner to refinance an existing mortgage with a 10-year, interest-only loan at a 6.44% coupon.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$135,000,000.00

Monthly NOI$900,000.00
Monthly Debt Service$853,291.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00