Cathay Bank Provides $1.8M Refinance Loan For Mixed-Use Property At 94 University Place NYC
94 University Pl New York, NY 10003, USA
$1,800,000
$414/SF
Building Size
4,348 SF
Asset Type
Mixed-use
Closing
Jun 2, 2023
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 94 University Place in New York City. The property has a total square footage of 4,348. The deal involves a refinance loan provided by Cathay Bank in the amount of $1,800,000. The property is owned by Mary Trojanowski and Tricia Pieto. The broker representing this transaction is Isaac Blyakher from Rosewood Realty Group.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $1,800,000
- Loan Type: Refinance
- Address: 94 University Place, New York City
- Market: New York City
- Square Footage: 4,348
- Lender: Cathay Bank
- Landlord: Mary Trojanowski & Tricia Pieto
- Broker: Isaac Blyakher - Rosewood Realty Group
Isaac Blyakher from Rosewood Realty Group played a key role in representing the parties involved in this transaction. The refinance loan provided by Cathay Bank enables the owners, Mary Trojanowski and Tricia Pieto, to leverage the value of their mixed-use property located at 94 University Place in New York City.
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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93