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NYCB Provides $9.5M Loan For Mixed-use Property In Hells Kitchen

Property Image
FINANCED
$9,500,000

New York

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Mixed-use
Financed 02/08/2021
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Property Image
FINANCED

NYCB Provides $9.5M Loan For Mixed-use Property In Hells Kitchen

650-652 9th Ave, Hell's Kitchen, New York, NY, USA

See Similar Deals
Mixed-use
Financed 02/08/2021
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Summary

NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan

A mixed-use property located at 650-652 9th Ave. & 801-803 9th Ave. in Hells Kitchen has recently undergone a transaction. The property, consisting of a combination of residential and commercial spaces, was involved in a deal facilitated by Adam L. Kaplan Esq. from GCPCapitalGroup. The lender for the transaction was NYCB, and the landlord involved was Sudhakar Rayapudi.

Summary of Transaction Details

  • Property Type: Mixed-use
  • Transaction Amount: $9,500,000
  • Mortgage Broker: Adam L. Kaplan Esq. from GCPCapitalGroup
  • Lender: NYCB
  • Landlord: Sudhakar Rayapudi

Adam L. Kaplan Esq., as the mortgage broker representing the GCPCapitalGroup, played a key role in facilitating the loan for the transaction. For more information regarding this transaction, individuals can contact Adam L. Kaplan directly:

  • Adam L. Kaplan, Esq., Managing Director, GCP Capital Group, LLC
  • Address: 60 Cutter Mil Road, Ste. 600, Great Neck, NY 11021
  • Phone: (516) 487-5900, Ext 138
  • Mobile: (917) 689-3488
  • Fax: (516) 487-5944
  • Email: [email protected]

Players

Adam Kaplan
6 deals$86.8M volume
BROKER

Adam Kaplan
Scouter Capital
6 deals$86.8M volume
BROKER

Gcp Capital Group
BROKERAGE

Details

FINANCED
IMAGE: Adam L. Kaplan Esq. DATE: 02/08/2021 ADDRESS: 650-652 9th Ave. & 801-803 9th Ave. MARKET: Hells Kitchen ASSET TYPE: Mixed-use LENDER: NYCB MORTGAGE BROKER: Adam L. Kaplan Esq. (@AdamKaplanCRE) @GCPCapitalGroup LANDLORD: Sudhakar Rayapudi LOAN AMOUNT: $9,500,000 NOTE FROM @GCPCapitalGroup: For more info please contact Adam directly: 👤Adam L. Kaplan, Esq., Managing Director, GCP Capital Group, LLC 🏢60 Cutter Mil Road, Ste. 600, Great Neck, NY 11021 ☎️ (516) 487-5900, Ext 138 📱 (917) 689-3488 📠 (516) 487-5944 📧[email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,500,000.00

Monthly NOI$63,333.33
Monthly Debt Service$60,046.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00