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Esquire Bank Provides $22M Loan For 196-Unit Multifamily Property In Financial District, Manhattan

Property Image
FINANCED
$22,000,000

New York

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MultiFamily
Financed 08/14/2023
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Property Image
FINANCED

Esquire Bank Provides $22M Loan For 196-Unit Multifamily Property In Financial District, Manhattan

33 Gold St New York, Ny 10038, Usa

See Similar Deals
MultiFamily
Financed 08/14/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The 196-unit apartment property located at 33 Gold Street in Manhattan's Seaport area has secured $22 million in financing from Esquire Bank. Situated in the Financial District of Manhattan, this multifamily asset offers a promising investment opportunity.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $22,000,000
  • Units: 196
  • Address: 33 Gold Street, Financial District, Manhattan
  • Market: Seaport area

Thurcon Properties of New York, representing the landlord, played a significant role in the successful loan acquisition. As the lender, Esquire Bank has provided the necessary financial support for the property's expansion and maintenance needs. This loan will enable the development of the multifamily property, benefiting both the landlord and potential tenants. The deal signifies a positive turn of events for the property and showcases the trust that Esquire Bank has in the future potential of 33 Gold Street.

Players

Esquire Bank
Esquire Bank
LENDER

Details

FINANCED
IMAGE: 08/14/2023 ADDRESS: 33 Gold Street MARKET: Financial District, Manhattan ASSET TYPE: Multifamily ~ UNITS: 196 LENDER: Esquire Bank LANDLORD: Thurcon Properties of New York LOAN AMOUNT: $22,000,000 NOTE: Esquire Bank has furnished $22 million in financing for the 196-unit apartment property at 33 Gold St. in Manhattan's Seaport area.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$22,000,000.00

Monthly NOI$146,666.67
Monthly Debt Service$139,054.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00