Effy Jewelry's Hematian Family Secures $75M Loan For Mixed-Use Property At 590 Fifth Avenue In Midtown
590 Fifth Avenue, New York City, New York 10017, United States
$75,000,000
$750/SF
Building Size
100,000 SF
Asset Type
Mixed-use
Closing
Aug 18, 2022
AI
The mixed-use property located at 590 Fifth Avenue in Midtown, with a total square footage of 100,000, has recently been involved in a loan transaction.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $75,000,000
- Address: 590 Fifth Avenue
- Market: Midtown
The loan was provided by Signature Bank, and the landlord of the property is Effy Jewelry, owned by the Hematian family. Bobby Hematian, Effy Hematian, and Benny Hematian are pictured in an image associated with the transaction.
Players
Watervliet 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93