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

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FINANCED
$5,014,374

New York

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Mixed-use4,709 SF
Financed
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FINANCED

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

369 West 46th Street

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Mixed-use4,709 SF
Financed
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1064
Total Square Footage:4709 SF
Transaction Type:Loan

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
10 deals$86.8M volume(917) 482-5959
BROKER

Cornerstone Capital of NY
LENDER

Details

FINANCED
IMAGE: Bernadette Brennan & Russell Nova DATE: 3/20/2025 ADDRESS: 369 West 46th Street MARKET: Hell's Kitchen ASSET TYPE: Mixed-use ~ SF: 4,709 ~ UNITS: 2 LENDER: Regional Business Assistance Corporation (RBAC) LANDLORD: Eric Hanninen LENDER'S REP: Russell Nova (@RussellNova) - Conerstone Capital Financing (@CornerstoneCapitalofNY) LANDLORD'S REP: Bernadette Brennan (@MomBossNYC) - Serhant (@SerhantCommercialNY) LOAN AMOUNT: $5,014,374 LOAN TYPE: Acquisition NOTE FROM LANDLORD'S REP: Serhant Commercial’s Bernadette Brennan represented the seller in the sale of this mixed-use building and successfully brought in a lender to get the deal across the finish line. For expert deal-making and access to NYC's best investment opportunities, contact Bernadette Brennan at [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,014,374.00

Monthly NOI$33,429.16
Monthly Debt Service$31,694.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00