PCCP Provides $55M Loan For Mixed-Use Property At 305 East 61st Street In Lenox Hill
305 E 61st St, New York, NY 10065, USA
$30,000,000
$45/SF
Building Size
662,340 SF
Asset Type
MultiFamily
Closing
Mar 30, 2020
AI
The mixed-use property located at 305 East 61st Street in Lenox Hill has been involved in a recent closed transaction. Spanning an impressive 66,237 square feet, this property offers a dynamic space for various purposes.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $55,000,000
- Address: 305 East 61st Street
- Market: Lenox Hill
- Lender: PCCP
- Landlord: Forkosh Development Group
- Loan Date: 07/08/2022
The loan for this transaction, amounting to $55,000,000, was provided by PCCP. The landlord in this deal is the Forkosh Development Group. The transaction took place on 07/08/2022, marking an important milestone for the parties involved.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93