Midtown Equities Secures $135 Million Refinance Loan From UBS For 33 9th Avenue
FINANCED
$135,000,000
New York
See Similar DealsMixed-use87,500 SF
Financed 02/03/2025
FINANCED
Midtown Equities Secures $135 Million Refinance Loan From UBS For 33 9th Avenue
33 9th Avenue
See Similar DealsMixed-use87,500 SF
Financed 02/03/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,542
Total Square Footage:87,500 SF
Transaction Type:Loan
The asset involved in this transaction is located at 33 9th Avenue in the Meatpacking District. It encompasses a total square footage of 87,500 and comprises hospitality and retail components. This transaction involves a refinance loan amounting to $135,000,000.
Summary of transaction details:
- Property Type: Hospitality & Retail
- Transaction Amount: $135,000,000
- Address: 33 9th Avenue
- Market: Meatpacking District
- Lender: UBS
- Landlord: Midtown Equities
- Brokers: Tal Savariego & Robert Verrone - Iron Hound Management Company
- Loan Type: Refinance
Key individuals involved in this transaction include Tal Savariego and Robert Verrone, who represent Iron Hound Management Company as brokers. They played a crucial role in facilitating the refinance loan between the lender, UBS, and the landlord, Midtown Equities.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$135,000,000.00
Monthly NOI$900,000.00
Monthly Debt Service$853,291.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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