Plymouth Group Secures $5.5M Refinance Loan For Mixed-use Asset In Hell's Kitchen
353 West 56th Street
$5,500,000
$400/SF
Building Size
13,735 SF
Asset Type
Mixed-use
Closing
Jul 23, 2025
About this deal
AI
The asset involved in this transaction is a mixed-use property located at 353 West 56th Street in Hell's Kitchen, Manhattan. The building encompasses a total square footage of 13,735. The loan amount secured for this property is $5,500,000, classified as a refinance.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,500,000
- Address: 353 West 56th Street
- Market: Hell's Kitchen, Manhattan
- Lender: Nicholas LaMorte & Joseph E. Fingerman - Peapack Private Bank & Trust
- Landlord: Plymouth Group
- Loan Type: Refinance
Key individuals involved in the transaction include Nicholas LaMorte and Joseph E. Fingerman, who represent Peapack Private Bank & Trust as the lenders. The landlord of the property is the Plymouth Group, providing oversight for the asset.
On the Map
$5,500,000
$400/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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93