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Hanover Capital Provides $2...

Hanover Capital Provides $2.65M Bridge Loan For Mixed-Use Property In Nolita, Manhattan
FINANCEDMixed-use

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

Nir Mor

Hanover Capital

Broker

$160.9M

vol

20 deals

Broker

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