United American Land Secures $28 Million Refinance Loan For Mixed-Use Building At 301 Canal Street
301 Canal Street
$28,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Nov 25, 2025
AI
The asset involved in this transaction is a mixed-use building located at 301 Canal Street, situated in the SoHo market of Manhattan. The refinance loan amount secured for this property is $28,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $28,000,000
- Lender: Peter F. Cervinka - Cerco Funding
- Landlord: Albert Laboz - United American Land
- Loan Type: Refinance
- Date: 11/25/2025
Peter F. Cervinka represents Cerco Funding, acting as the lender in this transaction, while Albert Laboz represents United American Land as the landlord. The refinancing was conducted through 419 MM LLC, facilitating the financial transaction for the mixed-use building.
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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93