Hanover Capital Provides $2.65M Bridge Loan For Mixed-Use Property In Nolita, Manhattan
$2,650,000
Building Size
—
Asset Type
Mixed-use
Closing
Nov 29, 2023
AI
A mixed-use property in Nolita, Manhattan with a total square footage of 9,855 has recently undergone a loan transaction. The loan amount for this deal was $2,650,000, obtained through a bridge loan. Hanover Capital, represented by Nir Mor, served as the lender for this transaction.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,650,000
- Market: Nolita, Manhattan
- Square Footage: 9,855
Nir Mor of Hanover Capital played a crucial role in this loan deal as the lender. The bridge loan provided the necessary financial support for the mixed-use property in Nolita, Manhattan.
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
5.99%
Cash-on-Cash
-1.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93