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989 993 Sixth Avenue

Ray Yadid Isaac Chetrit Eli Chetrit Secures $275 Million Construction Loan From Affinius Capital
FINANCEDMixed-use

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

Henry Bodek

Galaxy Capital

Broker

$12.3B

vol

69 deals

Broker
Affinius Capital
Affinius CapitalLender
Eli Chetrit

Eli Chetrit

Landlord

$1.3B

vol

8 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

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93