Madison Realty Capital Provides $26.5M Loan For Upper East Side Condo On East 61st Street
FINANCED
$26,500,000
New York
See Similar DealsMixed-use66,237 SF
Financed 02/11/2022
FINANCED
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
See Similar DealsMixed-use66,237 SF
Financed 02/11/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$400
Total Square Footage:66,237 SF
Transaction Type:Loan
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
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,500,000.00
Monthly NOI$176,666.67
Monthly Debt Service$167,498.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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