Preferred Bank Provides $3.125M Refinance Loan For Mixed-Use Property In Hell's Kitchen
FINANCED
$3,125,000
New York
See Similar DealsMixed-use7,906 SF
Financed 06/26/2024
FINANCED
Preferred Bank Provides $3.125M Refinance Loan For Mixed-Use Property In Hell's Kitchen
719 9th Avenue
See Similar DealsMixed-use7,906 SF
Financed 06/26/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$395
Total Square Footage:7,906 SF
Transaction Type:Loan
The property asset involved in the transaction is a mixed-use building located at 719 9th Avenue in Hell's Kitchen, Manhattan. The asset has a total square footage of 7,906 and the transaction includes a refinancing loan amounting to $3,125,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,125,000
- 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
Key individuals involved in the deal include Charles Han representing Preferred Bank and Jason Au representing the landlord in the transaction. Jason Au can be contacted at [email protected] for a competitive quote on property financing options such as bridge, permanent, or construction loans.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,125,000.00
Monthly NOI$20,833.33
Monthly Debt Service$19,752.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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