Citi Provides $30 Million Refinance Loan For Mixed Use Portfolio In Manhattan And Bronx
$30,000,000
$456/SF
Building Size
65,787 SF
Asset Type
Mixed-use
Closing
Jul 25, 2024
AI
The property asset involved is a mixed-use portfolio consisting of 8 buildings situated in the Manhattan and Bronx markets. The total square footage of the portfolio is 65,787, which includes 17 commercial units and 54 residential units.
Summary of transaction details:
- Property Type: Mixed Use Portfolio
- Transaction Amount: $30,000,000
- Lender: Citi
- Broker: Michael Lee - HKS Real Estate Advisors
- Loan Type: Refinance
- Date: 07/24/2024
- Address: Multiple
Key individuals involved in the transaction include Michael Lee, who served as the broker representing this deal through HKS Real Estate Advisors, facilitating the loan process with Citi for refinancing the mixed-use portfolio.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93