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
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.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93