Ray Yadid Isaac Chetrit Eli Chetrit Secures $275 Million Construction Loan From Affinius Capital
989 993 Sixth Avenue
$275,000,000
$785/SF
Building Size
350,000 SF
Asset Type
Mixed-use
Closing
Apr 3, 2025
AI
The asset involved in this transaction is a mixed-use property located at 989-993 Sixth Avenue in the Garment District, encompassing a total square footage of 350,000. The transaction involves a construction loan amounting to $275,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $275,000,000
- Address: 989-993 Sixth Avenue
- Market: Garment District
- Lender: Affinius Capital
- Landlord: Ray Yadid, Isaac Chetrit & Eli Chetrit
- Broker: Henry Bodek - Galaxy Capital
This deal features key individuals, including Ray Yadid, Isaac Chetrit, and Eli Chetrit, who are the landlords associated with the property. The broker representing the deal is Henry Bodek from Galaxy Capital, facilitating the transaction with Affinius Capital as the lender.
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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93