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
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
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