Sterling National Bank Provides $13.25M Loan For Mixed-Use Property At 958 Madison Avenue
958 Madison Ave, New York, NY 10021, USA
$13,250,000
$5,578/SF
Building Size
2,375 SF
Asset Type
Mixed-use
Closing
Nov 29, 2020
About this deal
AI
The mixed-use property located at 958 Madison Avenue in Lenox Hill has recently been involved in a closed transaction. The deal involved a loan amount of $13,250,000 provided by Sterling National Bank. The property is owned by the Soufer and Soleymani Family.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $13,250,000
- Address: 958 Madison Avenue
- Market: Lenox Hill
The lead broker in this deal was Marko Kazanjian, representing the buyer or seller. The secondary brokers involved were Max Herzog and Matt Collins. Brendan Collins worked as an analyst in this transaction.
On the Map
$13,250,000
$5,578/SF
Mixed-use
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Players
City of Albany 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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93