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305 East 61st Street, New Y...

Madison Realty Capital Provides $26.5M Loan For Upper East Side Condo On East 61st Street
FINANCEDMixed-use

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

Sam Spinner

Broker

$26.5M

vol

1 deal

Broker
Pacific Coast Capital Partners (PCCP)
Pacific Coast Capital Partners (PCCP)Lender

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

0.60%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93