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Principal Real Estate Investors Provides $37.5M Loan For Mixed-Use Property At 3 E 28th St

Property Image
FINANCED
$37,500,000
Jay Stark
David  Horowitz
+ 2

New York

See Similar Deals
Mixed-use66,447 SF
Financed 05/02/2019
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Property Image
FINANCED

Principal Real Estate Investors Provides $37.5M Loan For Mixed-Use Property At 3 E 28th St

3 East 28th Street, New York, NY 10016, USA

See Similar Deals
Mixed-use66,447 SF
Financed 05/02/2019
Jay Stark
David  Horowitz
+ 2
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$564
Total Square Footage:66,447 SF
Transaction Type:Loan

The mixed-use property located at 3 E 28th St has recently undergone a closed transaction. The property, spanning a total of 66,447 square feet, was involved in a deal with various key individuals and companies.

Summary of transaction details

The lender for this transaction was Principal Real Estate Investors, while the landlord involved was Winter Properties. Cooper-Horowitz, represented by Richard Horowitz, David Horowitz, and Justin Horowitz, played a significant role as brokers in the deal. They were joined by Rob Dirks from Principal Real Estate and Jay Stark from Winter Properties as representatives for their respective companies.

Players

Justin Horowitz
31 deals$1.9B volume(212) 986-8400
BROKER

Richard Horowitz
Cooper Horowitz
40 deals$2.7B volume
BROKER

David  Horowitz
Cooper Horowitz
17 deals$578.6M volume
BROKER

Rob Dirks
1 deal$37.5M volume
BROKER

Jay Stark
1 deal$37.5M volume
BROKER

Principal Real Estate Investors
LENDER

Details

FINANCED
IMAGE: Jay Stark and Justin Horowitz DATE: 05/02/2019 ADDRESS: 3 E 28th St ASSET TYPE: Mixed-use LENDER: Principal Real Estate Investors LANDLORD: Winter Properties BROKERS: Cooper-Horowitz — Richard Horowitz, David Horowitz and Justin Horowitz, Principal Real Estate - Rob Dirks, Winter Properties - Jay Stark LOAN AMOUNT: $37,500,000 SF: 66,447 LOAN TERMS: 10-year fixed-rate

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$37,500,000.00

Monthly NOI$250,000.00
Monthly Debt Service$237,025.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00