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
About this deal
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.
On the Map
$18,500,000
$3,363/SF
Mixed-use
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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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93