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Preferred Bank Provides $4.93 Million Refinance Loan For 700 10th Avenue In Hell's Kitchen

Property Image
FINANCED
$4,925,000
Jason Au
Charles Han

New York

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Mixed-use7,750 SF
Financed 06/26/2024
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Property Image
FINANCED

Preferred Bank Provides $4.93 Million Refinance Loan For 700 10th Avenue In Hell's Kitchen

700 10th Avenue

See Similar Deals
Mixed-use7,750 SF
Financed 06/26/2024
Jason Au
Charles Han
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$635
Total Square Footage:7,750 SF
Transaction Type:Loan

This mixed-use property located at 700 10th Avenue in Hell's Kitchen, Manhattan encompasses a total square footage of 7,750. A refinance loan amounting to $4,925,000 has been secured against this asset with a loan term of 7.25%, fixed for 5 years, alongside a 30-year amortization schedule.

Summary of transation details:

  • Property Type: Mixed-use
  • Transaction Amount: $4,925,000
  • Lender: Preferred Bank
  • Lender's Representative: Charles Han
  • Landlord's Representative: Jason Au
  • Loan Type: Refinance
  • Loan Terms: 7.25%, 5 Years Fixed Rate, 30-year amortization

Charles Han acted as the representative for Preferred Bank in this transaction, while Jason Au served as the representative for the landlord. Interested parties may contact Jason at [email protected] for competitive quotes on bridge, permanent, or construction loans.

Players

Charles Han
JBA Equities
Charles Han
14 deals$399.9M volume
BROKER
Jason Au
Jason Au
9 deals$41.1M volume
BROKER
Preferred Bank
Preferred Bank
LENDER

Details

FINANCED
IMAGE: Jason Au & Charles Han DATE: 06/26/2024 ADDRESS: 700 10th Avenue MARKET: Hell's Kitchen, Manhattan ASSET TYPE: Mixed-use ~ SF: 7,750 LENDER: Preferred Bank LENDER'S REP: Charles Han (@CeeHan1021) LANDLORD'S REP: Jason Au (@Au_Consultants_Inc) (@JAu198) LOAN AMOUNT: $4,925,000 LOAN TYPE: Refinance LOAN TERMS: 7.25%, 5 Years Fixed Rate, 30-year amortization NOTE FROM BROKER: Please reach out to Jason at [email protected] for a competitive quote on your property for bridge, permanent, or construction loans.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,925,000.00

Monthly NOI$32,833.33
Monthly Debt Service$31,129.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00