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369 West 46th Street

Eric Hanninen Secures $5.01 Million Acquisition Loan For Mixed-use Property In Hell's Kitchen
FINANCEDMixed-use

Eric Hanninen Secures $5.01 Million Acquisition Loan For Mixed-use Property In Hell's Kitchen

369 West 46th Street

$5,014,374

$1,064/SF

Building Size

4,709 SF

Asset Type

Mixed-use

Closing

Mar 19, 2025

AI

The property asset involved in the transaction is a mixed-use building located at 369 West 46th Street in the Hell's Kitchen market. The building comprises two units and spans a total of 4,709 square feet. The acquisition loan amount secured for this property is $5,014,374.

Summary of transaction details:

In this transaction, Bernadette Brennan of Serhant represented the landlord, and she played a vital role in bringing the lender on board to finalize the acquisition deal. Russell Nova from Conerstone Capital Financing acted as the representative for the lender, facilitating the financing process for this property deal.

Players

Bernadette Brennan

Serhant

Broker

$206.8M

vol

11 deals

Broker
Cornerstone Capital of NY
Cornerstone Capital of NYLender

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

3.16%

Cash-on-Cash

-0.90%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93