Ray Yadid Isaac Chetrit Eli Chetrit Secures $275 Million Construction Loan From Affinius Capital
FINANCED
$275,000,000
+ 1
New York
See Similar DealsMixed-use350,000 SF
Financed 04/03/2025
FINANCED
Ray Yadid Isaac Chetrit Eli Chetrit Secures $275 Million Construction Loan From Affinius Capital
989 993 Sixth Avenue
See Similar DealsMixed-use350,000 SF
Financed 04/03/2025
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$785
Total Square Footage:350,000 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$275,000,000.00
Monthly NOI$1,833,333.33
Monthly Debt Service$1,738,187.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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