Joy Construction & Madd Equities Secures $414M Construction Loan For Mixed-Use Property In Inwood
3875 9th Avenue, New York City, New York 10034, United States
$414,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Mar 2, 2023
About this deal
AI
The mixed-use property located at 3875 Ninth Avenue in Inwood has been involved in a closed transaction. The transaction took place on 02/03/2023 and the loan amount for this deal was $414,000,000. The property is owned by Joy Construction, represented by Eli Weiss and Madd Equities. It is important to note that the loan type for this transaction is construction.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $414,000,000
- Address: 3875 Ninth Avenue
- Market: Inwood
Eli Weiss and Madd Equities from Joy Construction played a significant role in this transaction as the landlords. They were responsible for representing the property and overseeing the deal.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93