FINANCEDMixed-use
Signature Bank Provides $24.5M Refinance Loan For Mixed-Use Properties In Manhattan And Queens
357 East 78th Street, New York City, New York 10075, United States
$24,475,000
Building Size
—
Asset Type
Mixed-use
Closing
May 3, 2022
AI
A mixed-use property located at 357 East 78th Street in Manhattan and 42-72 80th Street in Queens has undergone a refinancing transaction.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $24,475,000
- Market: Manhattan & Queens
- Address: 357 East 78th Street & 42-72 80th Street
- Lender: Signature Bank
- Brokers: Josh Rhine & Ezra Sutton - Meridian Capital Group
Josh Rhine and Ezra Sutton, representing the Meridian Capital Group, facilitated the loan refinancing process for this mixed-use property 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
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93