Eric Schlagman Secures $25M Refinancing Loan For Tribeca Mixed-Use Property
50 Hudson St New York, NY 10013, USA
$25,000,000
$2,205/SF
Building Size
11,337 SF
Asset Type
Mixed-use
Closing
Apr 27, 2023
About this deal
AI
Eric Schlagman secured a $25 million refinancing loan from GLT Hudson Holdings, LLC, an affiliate of Regeneron co-founder George D. Yancopoulos, for the mixed-use building located at 50 Hudson Street in Tribeca, Manhattan. The loan closed on April 27, 2023.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $25,000,000
- Address: 50 Hudson Street
- Market: Tribeca, Manhattan
- SF: 11,337
- Lender: GLT Hudson Holdings, LLC
- Landlord: Eric Schlagman
- Loan Type: Refinance
GLT Hudson Holdings, LLC, an affiliate of Regeneron co-founder George D. Yancopoulos, provided a $25 million refinancing loan to Eric Schlagman for the mixed-use building at 50 Hudson Street in Tribeca, Manhattan. The loan closed on April 27, 2023.
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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93