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George Makkos Secures $21.5M Refinancing Loan For SoHo Mixed-Use Properties

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FINANCED
$21,500,000

New York

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Mixed-use21,321 SF
Financed 05/25/2023
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FINANCED

George Makkos Secures $21.5M Refinancing Loan For SoHo Mixed-Use Properties

67 Greene Street New York, New York 10012, USA

See Similar Deals
Mixed-use21,321 SF
Financed 05/25/2023
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,008
Total Square Footage:21,321 SF
Transaction Type:Loan

George Makkos secured a $21.5 million refinancing loan from T30 Capital, facilitated by Forthill Makkos Holders, LLC. The loan covers two mixed-use properties in SoHo, Manhattan, including a four-unit building at 67 Greene Street and a three-unit building at 65 Greene Street. The total building square footage is 21,321, with a buildable square footage of 25,650.

Summary of transaction details:

  • Property Type: Mixed-Use
  • Transaction Amount: $21,500,000
  • BSF: 25,650
  • SF: 21,321
  • Address: 67 Greene Street & 65 Greene Street, SoHo, Manhattan
  • Lender: T30 Capital - David Schwartz
  • Landlord: George Makkos
  • Loan Type: Refinance

David Schwartz, representing T30 Capital, facilitated the $21.5 million refinancing loan for George Makkos. The loan covers two mixed-use properties in SoHo, Manhattan, specifically a four-unit building at 67 Greene Street and a three-unit building at 65 Greene Street.

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LENDER

Details

FINANCED
IMAGE: 05/25/2023 ADDRESS: 67 Greene Street & 65 Greene Street MARKET: SoHo, Manhattan ASSET TYPE: Mixed-Use ~ BSF: 25,650 ~ SF: 21,321 LENDER: T30 Capital - David Schwartz LANDLORD: George Makkos LOAN AMOUNT: $21,500,000 LOAN TYPE: Refinance NOTE: George Makkos secured a $21.5 million refinancing loan from T30 Capital, facilitated by Forthill Makkos Holders, LLC. The loan covers two mixed-use properties in SoHo, Manhattan, including a four-unit building at 67 Greene Street and a three-unit building at 65 Greene Street.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$21,500,000.00

Monthly NOI$143,333.33
Monthly Debt Service$135,894.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00