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861 Broadway

Richard Carroll Of Transworld Equities Secures $7 Million Refinance For Mixed-Use Property In Flatiron District
FINANCEDMixed-use

Richard Carroll Of Transworld Equities Secures $7 Million Refinance For Mixed-Use Property In Flatiron District

861 Broadway

$7,000,000

Building Size

Asset Type

Mixed-use

Closing

Jul 2, 2026

AI

The property asset involved in this transaction is a three-unit mixed-use property located at 861 Broadway in Manhattan's Flatiron District. The property has undergone refinancing, which involves a loan to replace the existing one.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $7,000,000
  • Lender: East West Bank
  • Landlord: Richard Carroll - Transworld Equities
  • Previous Loan Amount: $6,000,000
  • Previous Lender: Wells Fargo
  • Transaction Date: 07/02/2026

This refinancing was handled by Transworld Equities, representing the landowner Richard Carroll, which resulted in securing the loan from East West Bank. This transaction replaces the earlier loan serviced by Wells Fargo, indicating a strategic financial move by the landlord.

Players

East West Bank
East West BankLender

Richard Carroll

Transworld Equities

Landlord

$36.1M

vol

5 deals

Landlord

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

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93