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650-652 9th Ave, Hell's Kit...

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

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

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

$9,500,000

Building Size

Asset Type

Mixed-use

Closing

Feb 7, 2021

AI

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

Scouter Capital

Broker

$86.8M

vol

6 deals

Broker
Gcp Capital Group
Gcp Capital GroupBrokerage
New York Community Bank
New York Community BankLender

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

1.67%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93