Pan Am Equities Secures $60.6M Loan From People's United Bank For Mixed-Use Properties In Lower Manhattan
FINANCED
$60,600,000
New York
See Similar DealsMixed-use
Financed 07/28/2018
FINANCED
Pan Am Equities Secures $60.6M Loan From People's United Bank For Mixed-Use Properties In Lower Manhattan
37 W 16th St, New York, NY 10011, USA
See Similar DealsMixed-use
Financed 07/28/2018
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
Pan Am Equities CEO, Scott Solomon, recently closed a transaction involving mixed-use properties in Lower Manhattan. The properties include 37-39 West 16th Street, 43 West 16th Street, 1556 York Avenue, and 253 West 14th Street. The deal was facilitated by LENDER, People's United Bank, who provided a loan amount of $60,600,000. The landlord and developer of these properties is Pan Am Equities.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $60,600,000
- Market: Lower Manhattan
- City: New York
This successful transaction brings together key players in the real estate industry. Scott Solomon, as the CEO of Pan Am Equities, played a crucial role in overseeing the deal. Pan Am Equities, the landlord and developer in this transaction, demonstrated their expertise in the mixed-use property market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,600,000.00
Monthly NOI$404,000.00
Monthly Debt Service$383,033.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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