Updated Oct 28, 2024
Signature Bank Provides $20.5M Refinance Loan For Multifamily & Mixed-use Property In Tribeca & Financial District
287 Broadway, New York City, New York 10007, United States
$20,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 28, 2022
About this deal
AI
The property involved in this closed transaction is located at 287 Broadway & 17 Park Place in the Tribeca & Financial District market. The asset consists of a multifamily and mixed-use building.
Summary of transaction details:
- Property Type: Multifamily & Mixed-use
- Transaction Amount: $20,500,000
- Address: 287 Broadway & 17 Park Place
- Market: Tribeca & Financial District
The lender involved in this transaction is Signature Bank, represented by Kenneth A. Stagnari. The loan amount for this deal is $20,500,000, and it was a refinance loan. The landlord in this transaction is United American Land, represented by Albert Laboz.
On the Map
$20,500,000
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.77%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93