Bryan Geffen & Noah Schulman Secure $8.275M Refinance Loan At 51 Spring Street
51 Spring Street
$8,275,000
$672/SF
Building Size
12,300 SF
Asset Type
Mixed-use
Closing
May 30, 2024
AI
The mixed-use property located at 51 Spring Street in New York spans 12,300 square feet. The recent transaction involved a refinance loan amounting to $8,275,000 provided by A10 Capital. The loan terms include a 5-year duration with a fixed interest rate of 6.850%, featuring full term interest-only payments.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,275,000
- Lender: A10 Capital
- Brokers: Bryan Geffen & Noah Schulman - Meridian Capital Group
- Loan Type: Refinance
- Loan Terms: 5 Years, 6.850% Fixed, Full Term IO
The transaction was facilitated by Bryan Geffen and Noah Schulman from Meridian Capital Group, acting as the brokers in the deal.
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
1.92%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93