HKS Real Estate Advisors Arranges $4.5M Refinance Loan For Mixed-Use Property In Manhattan
425 E 6th St New York, NY 10009, USA
$4,500,000
$269/SF
Building Size
16,700 SF
Asset Type
Mixed-use
Closing
Jul 14, 2023
AI
A mixed-use property located at 425 & 543 East 6th Street in Manhattan has recently undergone a refinancing transaction. This property spans approximately 16,700 square feet and consists of 28 units. The transaction involved a loan amount of $4,500,000 provided by Modern Bank.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,500,000
- Address: 425 & 543 East 6th Street, Manhattan
- Size: 16,700 square feet
- Units: 28
The broker responsible for facilitating the refinancing deal was Michael Lee from HKS Real Estate Advisors. Through their expertise and negotiation skills, Michael Lee ensured a successful transaction for the involved parties.
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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93