Plymouth Group Secures $5.5M Refinance Loan For Mixed-use Asset In Hell's Kitchen
FINANCED
$5,500,000
New York
See Similar DealsMixed-use13,735 SF
Financed 07/24/2025
FINANCED
Plymouth Group Secures $5.5M Refinance Loan For Mixed-use Asset In Hell's Kitchen
353 West 56th Street
See Similar DealsMixed-use13,735 SF
Financed 07/24/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$400
Total Square Footage:13,735 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,500,000.00
Monthly NOI$36,666.67
Monthly Debt Service$34,763.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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