Modern Bank Provides $1.2M Refinance Loan For Mixed-Use Property In New York City
351 E 18th St New York, NY 10003, USA
$1,200,000
$363/SF
Building Size
3,300 SF
Asset Type
Mixed-use
Closing
Jul 14, 2023
AI
A mixed-use property located at 351 East 18th Street in New York City has recently undergone a refinancing transaction. The property spans 3,300 square feet and encompasses a combination of commercial and residential spaces.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $1,200,000
- Address: 351 East 18th Street
- Market: New York City
- Lender: Modern Bank
- Landlord: Kostas Kaimakliotis
- Broker: Ziv Cohen - Refined
The refinancing deal for this property was arranged through Modern Bank, with Kostas Kaimakliotis as the landlord. Ziv Cohen from Refined served as the broker for this transaction.
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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93