Webster Bank Provides $27M Refinance Loan For Manhattan Mixed-Use Portfolio
Manhattan, New York
$27,000,000
$558/SF
Building Size
48,316 SF
Asset Type
Mixed-use
Closing
Oct 24, 2022
About this deal
AI
The Manhattan mixed-use portfolio has undergone a refinancing transaction. The portfolio is located in New York and consists of a mixed-use property spanning 48,316 square feet.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $27,000,000
- Address: Manhattan Mixed-use Portfolio
- Market: New York
- Lender: Webster Bank
- Brokers: Joe Klein, Morris Diamant & Joseph Akerman - Meridian Capital Group
- Loan Type: Refinance
The refinancing deal was facilitated with Webster Bank as the lender. Acting on behalf of the transaction were brokers Joe Klein, Morris Diamant, and Joseph Akerman from Meridian Capital Group.
On the Map
$27,000,000
$558/SF
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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93