Secures $33.26M Construction Loan For Mixed-Use Property In New York City
$33,260,000
$547/SF
Building Size
60,806 SF
Asset Type
Mixed-use
Closing
Apr 17, 2023
About this deal
AI
A mixed-use property in New York City spanning 60,806 square feet has recently been involved in a closed transaction.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $33,260,000
- Market: New York City
The deal was facilitated by of , representing the parties involved in the transaction. The loan amount for this transaction stood at $33,260,000 with a construction loan type and a loan term of 30 months. The loan terms specified a loan-to-cost (LTC) ratio of 65%, indicating the loan amount covered 65% of the total project cost.
Players
Market 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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93