Equitas Capital Group Arranges $3.9M Acquisition Loan For Mixed-Use Property On East 50th Street In Midtown Manhattan
405 East 50th Street, Manhattan, New York, NY, USA
$3,895,000
$1,138/SF
Building Size
3,420 SF
Asset Type
Mixed-use
Closing
Oct 14, 2021
About this deal
AI
The mixed-use property located at 405 East 50th Street in Midtown Manhattan has been involved in a recent transaction. The property spans approximately 3,420 square feet.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,895,000
- Loan Type: Acquisition Loan
- Loan Rate: 3.25%
- Loan Term: 10 Year Fixed
- Loan Amortization: 20 Years
- LTV: 95%
- Financing Structure: Conventional
- Closing Timeframe: 40 Days
The transaction was facilitated by Alex Leykind from Equitas Capital Group. Equitas Capital Group specializes in securing customized solutions for commercial financing needs. With their market-leading technology and dedicated team of experts, they aim to provide loans with the lowest rates and highest benefits in a timely manner. Clients can contact Equitas Capital Group at 646.637.7510 for more information.
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
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93