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
About this deal
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
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