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63 Spring St, New York, NY ...

Jack Terzi's JTRE Holdings Secures $18.5M Loan From Principal Life For Mixed-Use Property On Spring Street, Soho
FINANCEDMixed-use

Jack Terzi's JTRE Holdings Secures $18.5M Loan From Principal Life For Mixed-Use Property On Spring Street, Soho

63 Spring St, New York, NY 10012, USA

$18,500,000

$3,363/SF

Building Size

5,500 SF

Asset Type

Mixed-use

Closing

Jun 24, 2019

AI

63 Spring Street in Soho was recently involved in a closed property transaction. The mixed-use property was part of a deal facilitated by Jack Terzi from JTRE Holdings as the landlord and Justin Horowitz from Cooper Horowitz as the broker.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $18,500,000
  • Square Footage: 5,500 SF
  • Address: 63 Spring Street
  • Market: Soho

Jack Terzi, representing JTRE Holdings, acted as the landlord for this transaction, while Justin Horowitz, from Cooper Horowitz, represented the buyer. The lender involved in this deal was Principal Life.

Players

Justin Horowitz

Brookfield Properties

Broker

$2.1B

vol

32 deals

Broker
Jack Terzi

Jack Terzi

JTRE Holdings

Landlord

$114.6M

vol

13 deals

Landlord

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

0.86%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93