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
$34,645,000
$4,678/SF
Building Size
7,405 SF
Asset Type
Mixed-use
Closing
Oct 26, 2020
About this deal
AI
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.
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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93