Meridian Capital Group Refinances Mixed-Use Property On 6th Ave. For $8.5M
498 6th Avenue, New York City, New York 10011, United States
$8,500,000
$1,032/SF
Building Size
8,232 SF
Asset Type
Mixed-use
Closing
Jun 15, 2022
About this deal
AI
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $8,500,000
- Loan Type: Refinance
- Loan Amount: $8,500,000
- Address: 498 6th Ave.
- Market: New York
- Square Footage: 8,232 SF
Seth Grossman & John Bianco of Meridian Capital Group represented the parties involved in the loan transaction for the mixed-use property located at 498 6th Ave. in New York. The loan, amounting to $8,500,000, was a refinance deal.
The mixed use loan at 498 6th Avenue, New York City, New York 10011, United States in New York, New York financed for $8.5M in 2022. The building is 8,232 square feet, implying about 1K per square foot on the published price. John Bianco, Meridian Capital Group appear on the loan alongside Meridian Capital Group. This page is the New York, New York file for the 498 6th Avenue, New York City, New York 10011, United States mixed use financed: pricing, party profiles, and other closed mixed use comps from the same New York sit in the Market section below. Filter that New York mixed use set by closing date to see what else financed near 498 6th Avenue, New York City, New York 10011, United States around 2022. Published consideration for 498 6th Avenue, New York City, New York 10011, United States is $8.5M, dated 2022. Cite this Meridian Capital Group Refinances Mixed-Use Property On 6th Ave. For $8.5M loan when underwriting similar mixed use product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93