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Manhattan, New York

Webster Bank Provides $27M Refinance Loan For Manhattan Mixed-Use Portfolio
FINANCEDMixed-use

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

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

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.

Players

Morris Diamant

Meridian Capital Group

Broker

$543.3M

vol

25 deals

Broker
Webster Bank
Webster BankLender

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