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.
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · All transaction types transactions
Loading comparables…
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