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490 Laguardia Pl, New York,...

Updated Oct 29, 2024

Emerald Creek Capital Lends $2M For Mixed-Use Property In Greenwich Village
FINANCEDMixed-use

Emerald Creek Capital Lends $2M For Mixed-Use Property In Greenwich Village

490 Laguardia Pl, New York, NY, 10012

$2,000,000

Building Size

—

Asset Type

Mixed-use

Closing

Nov 22, 2023

About this deal

AI

The property involved in the transaction is a four-story mixed-use building located at 490 Laguardia Pl, New York, NY, 10012. The loan amount provided by Lender Emerald Creek Capital was $2,000,000. The building sits on a 1,838 square foot corner lot and has a total gross building area of 7,350 square feet. Comprising five residential units and one retail unit on the ground floor, this property is situated in the bustling Greenwich Village neighborhood, known for its eclectic charm and central location in Manhattan.

Summary of transation details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,000,000.00
  • Market: New York
  • Lender's Representative: Associate Director (Timbercreek Capital)

The key individual in this deal is Scott Steinel, Senior Associate at Emerald Creek Capital. Responsible for facilitating the refinance, Steinel can be reached at (646) 237-2568 or [email protected]. The subject property benefits from a prime location with frontage on West Houston Street in Greenwich Village, offering easy accessibility via multiple subway lines in the area.

On the Map

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$2,000,000

Mixed-use

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Players

Scott Steinel

Timbercreek Capital

Broker

$12.2M

vol

4 deals

Broker
Emerald Creek Capital
Emerald Creek CapitalLender
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New York Mixed-use Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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