Jack Terzi's JTRE Holdings Secures $18.5M Loan From Principal Life For Mixed-Use Property On Spring Street, Soho
FINANCED
$18,500,000
New York
See Similar DealsMixed-use5,500 SF
Financed
FINANCED
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
See Similar DealsMixed-use5,500 SF
Financed
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$3363
Total Square Footage:5500 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,500,000.00
Monthly NOI$123,333.33
Monthly Debt Service$116,932.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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