New York Community Bank Modifies $2.68M Loan For 76 Pearl Street Mixed-Use Property In FiDi
76 Pearl Street, New York City, New York 10004, United States
$2,685,000
$309/SF
Building Size
8,665 SF
Asset Type
Mixed-use
Closing
Dec 7, 2021
About this deal
AI
A mixed-use property located at 76 Pearl Street in the Financial District (FiDi) recently underwent a loan modification. The loan was facilitated by New York Community Bank, and the transaction was brokered by Michael Helmreich and Avi Geller of Meridian Capital Group. The loan amount was $2,685,000, and it carries a term of 5 years and a rate of 3.5%.
Summary of transaction details:
- Property Type: Mixed-use
- Address: 76 Pearl Street
- Market: FiDi
- Lender: New York Community Bank
- Brokers: Michael Helmreich & Avi Geller - Meridian Capital Group
- Loan Amount: $2,685,000
- Loan Type: Modification
- Loan Term: 5 Years
- Loan Rate: 3.5%
Michael Helmreich and Avi Geller of Meridian Capital Group played a key role in facilitating this loan modification. Their expertise in the industry and their representation of the parties involved contributed to the successful completion of this deal.
On the Map
$2,685,000
$309/SF
Mixed-use
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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
5.91%
Cash-on-Cash
-1.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93