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454 Fort Washington Ave, Ne...

Apple Bank Refinances Mixed-Use Property In Hudson Heights For $9.5M
FINANCEDMixed-use

Apple Bank Refinances Mixed-Use Property In Hudson Heights For $9.5M

454 Fort Washington Ave, New York, NY 10033, USA

$9,500,000

Building Size

Asset Type

Mixed-use

Closing

Sep 29, 2020

AI

The mixed-use property located at 454/455/461 Ft Washington Avenue in Hudson Heights has recently undergone a refinancing deal. The loan was provided by Apple Bank for a total amount of $9,500,000. The property is owned by Gershon & Co., with Robert Gershon acting as the landlord. The transaction was facilitated by Simon Rosenfeld from Meridian Capital Group.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $9,500,000
  • Address: 454/455/461 Ft Washington Avenue
  • Market: Hudson Heights

Simon Rosenfeld from Meridian Capital Group played a crucial role as the broker in this refinancing deal. With his expertise and representation, the transaction was successfully completed. This demonstrates the importance of having knowledgeable professionals in real estate transactions.

Players

Apple Bank
Apple BankLender

Robert Gershon

Gershon & Co.

Landlord

$107.5M

vol

3 deals

Landlord

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

1.67%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93