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Jacob Chetrit & Stellar Management Extend $370M Loan On Columbus Square With Iron Hound's Kevin Thompson
Mixed-use

Jacob Chetrit & Stellar Management Extend $370M Loan On Columbus Square With Iron Hound's Kevin Thompson

, , , ,, 795 Columbus Avenue, 805 Columbus Avenue, 808 Columbus Avenue & 801 Amsterdam Avenue

$370,000,000

Building Size

Asset Type

Mixed-use

Closing

Mar 19, 2024

AI

The mixed-use properties located at 775 Columbus Avenue, 795 Columbus Avenue, 805 Columbus Avenue, 808 Columbus Avenue, and 801 Amsterdam Avenue in the Upper West Side were involved in a recent transaction. The landlords of these properties are Jacob Chetrit & Stellar Management, and the deal was facilitated by the broker Kevin Thompson from Iron Hound Management Company. The transaction consisted of a $370,000,000 CMBS loan secured by Jacob Chetrit and Stellar Management for a three-year extension at Columbus Square.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $370,000,000
  • Address: 775 Columbus Avenue, 795 Columbus Avenue, 805 Columbus Avenue, 808 Columbus Avenue, and 801 Amsterdam Avenue
  • Market: Upper West Side
  • Landlord: Jacob Chetrit & Stellar Management
  • Broker: Kevin Thompson - Iron Hound Management Company

The successful extension of the CMBS loan on Columbus Square was orchestrated by Kevin Thompson of Iron Hound Management. This deal highlights the collaborative efforts of Jacob Chetrit, Stellar Management, and Kevin Thompson in securing the financial arrangements for the mixed-use properties, ensuring stability and growth in the Upper West Side market.

Players

Kevin Thompson

Iron Hound Management Company

Broker

$617.2M

vol

5 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · All transaction types transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93