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
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