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369 West 46th Street, New Y...

Spring Bank & Cornerstone Capital Of NY Refinance $4M Loan For Mixed-Use Property On W. 46th St. In Manhattan
FINANCEDMixed-use

Spring Bank & Cornerstone Capital Of NY Refinance $4M Loan For Mixed-Use Property On W. 46th St. In Manhattan

369 West 46th Street, New York City, New York 10036, United States

$4,000,000

$849/SF

Building Size

4,709 SF

Asset Type

Mixed-use

Closing

Aug 21, 2022

AI

A mixed-use property located at 369 W. 46th St. in Manhattan has been involved in a closed transaction. The property has a total square footage of 4,709 and is situated in the Manhattan market.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $4,000,000
  • Lender: Spring Bank & Cornerstone Capital of NY - Russell Nova, Alex Nemirovsky & Igor Zakh
  • Landlord: James Roth Glenn
  • Loan Type: Refinance
  • Loan Terms: 5 Year Fixed, 30 Year Term

The deal was facilitated by Russell Nova, Alex Nemirovsky, and Igor Zakh from Spring Bank & Cornerstone Capital of NY. James Roth Glenn served as the landlord in this transaction.

Players

Cornerstone Capital of NY
Cornerstone Capital of NYLender

James Roth Glenn

Landlord

$8M

vol

2 deals

Landlord

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

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93