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
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