J.P. Morgan Chase & Goldman Sachs Provide $215M Loan For Mixed-Use Property In Lower East Side
Essex St, New York, NY 10002, USA
$215,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Oct 28, 2019
About this deal
AI
The closed property transaction took place in Essex Crossing, located in the Lower East Side market. The mixed-use asset involved in the deal was a notable property.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $215,000,000
- Date: 10/29/2019
- Address: Essex Crossing
- Market: Lower East Side
J.P. Morgan Chase and Goldman Sachs acted as lenders for this transaction. Delancey Street Associates served as the landlord. The brokers responsible for the deal were Jonathan Schwartz, Aaron Appel, Keith Kurland, and Adam Schwartz from AKS Capital Partners.
On the Map
$215,000,000
Mixed-use
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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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93