Madison Realty Capital Provides $26.5M Loan For Upper East Side Condo On East 61st Street
305 East 61st Street, New York City, New York 10065, United States
$26,500,000
$400/SF
Building Size
66,237 SF
Asset Type
Mixed-use
Closing
Feb 10, 2022
AI
The property involved in this transaction is a condo located at 305 East 61st Street in the Upper East Side market. The loan for this property was provided by Madison Realty Capital, with a loan amount of $26,500,000. The property is owned by Forkosh Development Group, and the broker representing the deal is Sam Spinner from Battery Park Group.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $26,500,000
- Address: 305 East 61st Street
- Market: Upper East Side
Josh Zegen from Madison Realty Capital was the lender for this transaction, providing the loan amount of $26,500,000. The landlord of the property is Forkosh Development Group. Sam Spinner from Battery Park Group represented the deal as the broker.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93