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6R Group Secures $19.5 Million Bridge Loan From Hanover Capital For Mixed-Use Asset In Tribeca

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FINANCED
$19,500,000

New York

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Mixed-use32,000 SF
Financed 01/17/2025
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FINANCED

6R Group Secures $19.5 Million Bridge Loan From Hanover Capital For Mixed-Use Asset In Tribeca

74 Warren Street

See Similar Deals
Mixed-use32,000 SF
Financed 01/17/2025
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$609
Total Square Footage:32,000 SF
Transaction Type:Loan

The property asset involved in this transaction is a mixed-use building located at 72-74 Warren Street & 88 West Broadway in the Tribeca market. The total square footage of the asset is 32,000. The transaction involved a loan amount of $19,500,000 which is structured as a bridge loan.

Summary of transaction details:

This transaction features key individuals including Nir Mor, representing Hanover Capital, who facilitated the loan, and Shai Shamir of 6R Group, serving as the landlord for the property. The brokerage team, comprised of Aaron Niedermayer and Vickram Jambu from JLL, played a critical role in navigating the deal.

Players

Vickram Jambu
30 deals$1.1B volume
BROKER

Aaron Niedermayer
JLL
32 deals$2.2B volume
BROKER

Hanover Capital
BROKERAGE

Details

FINANCED
IMAGE: Aaron Niedermayer, Nir Mor & Vickram Jambu DATE: 01/17/2025 ADDRESS: 72-74 Warren Street & 88 West Broadway MARKET: Tribeca ASSET TYPE: Mixed-use ~ SF: 32,000 LENDER: Nir Mor (@NirMor5) - Hanover Capital LANDLORD: 6R Group Shai Shamir BROKERS: Aaron Niedermayer & Vickram Jambu (@VickramJambu) - JLL (@JLL) LOAN AMOUNT: $19,500,000 LOAN TYPE: Bridge

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$19,500,000.00

Monthly NOI$130,000.00
Monthly Debt Service$123,253.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00