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Albert Laboz Of United American Land Secures $23.5M Refinance Loan In Tribeca

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FINANCED
$23,500,000

New York

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Mixed-use55,170 SF
Financed 05/08/2024
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FINANCED

Albert Laboz Of United American Land Secures $23.5M Refinance Loan In Tribeca

296 Canal Street & 300 Canal Street

See Similar Deals
Mixed-use55,170 SF
Financed 05/08/2024
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$426
Total Square Footage:55,170 SF
Transaction Type:Loan

The refinance loan of $23.5 million was secured from Israel Discount Bank for two Tribeca properties, including a mixed-use building at 296 Canal Street and an eight-unit residential walkup at 300 Canal Street. The properties have a total buildable square footage of 43,663 and a total square footage of 27,585. Albert Laboz of United American Land serves as the landlord in this transaction.

Summary of transaction details:

  • Property Type: Mixed-use & MultiFamily
  • Transaction Amount: $23,500,000
  • Address: 296 Canal Street & 300 Canal Street
  • Market: Tribeca, Manhattan
  • Lender: Elena Dokianos & Avi Lieberman - Israel Discount Bank
  • Landlord: Albert Laboz - United American Land

United American Land, represented by Albert Laboz, successfully secured the $23.5 million refinance loan from Israel Discount Bank. Elena Dokianos and Avi Lieberman from Israel Discount Bank facilitated the loan. This financial transaction involving the Tribeca properties at 296 Canal Street and 300 Canal Street highlights the collaboration between the key individuals and companies involved in the refinancing deal.

Players

LENDER

Details

FINANCED
IMAGE: Albert Laboz DATE: 05/08/2024 ADDRESS: 296 Canal Street & 300 Canal Street MARKET: Tribeca, Manhattan ASSET TYPE: Mixed-use & MultiFamily ~ BSF: 43,663 ~ SF: 27,585 LENDER: Elena Dokianos & Avi Lieberman - Israel Discount Bank (@DiscountBank) LANDLORD: Albert Laboz - United American Land LOAN AMOUNT: $23,500,000 LOAN TYPE: Refinance NOTE: United American Land, represented by Albert Laboz, secured a $23.5 million refinance loan from Israel Discount Bank for two Tribeca properties, including a mixed-use building at 296 Canal Street and an eight-unit residential walkup at 300 Canal Street.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$23,500,000.00

Monthly NOI$156,666.67
Monthly Debt Service$148,535.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00