Sterling National Bank Refinances Mixed-Use Property At 47 Third Avenue In East Village For $34.6M
FINANCED
$34,645,000
New York
See Similar DealsMixed-use7,405 SF
Financed 10/27/2020
FINANCED
Sterling National Bank Refinances Mixed-Use Property At 47 Third Avenue In East Village For $34.6M
47 3rd Ave, New York, NY 10003, USA
See Similar DealsMixed-use7,405 SF
Financed 10/27/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$4,678
Total Square Footage:7,405 SF
Transaction Type:Loan
A mixed-use property located at 47 Third Avenue in the East Village has been refinanced for a total amount of $34,645,000. The transaction took place on October 27, 2020. The property, owned by @SlatePropertyGroup, is situated in a vibrant market with a diverse range of residential and commercial spaces.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $34,645,000
- Lender: Sterling National Bank
- Landlord: @SlatePropertyGroup
- Market: East Village
Sterling National Bank provided the refinancing loan for this transaction. @SlatePropertyGroup, the landlord of the property, initiated the refinance process. The deal represents a significant financial opportunity for both parties involved.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,645,000.00
Monthly NOI$230,966.67
Monthly Debt Service$218,979.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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