Updated Oct 28, 2024
Shanghai Commercial Bank Provides $32.5 Million Loan For Multifamily Property On West 53rd Street
433 West 53rd Street, Manhattan, New York, NY, USA
$32,500,000
$780/SF
Building Size
41,617 SF
Asset Type
MultiFamily
Closing
Jun 27, 2021
About this deal
AI
The multifamily property located at 433 West 53rd Street in Clinton has been involved in a closed transaction. The property spans 41,617 square feet and consists of 60 units. The loan amount for this transaction was $32,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,500,000
- Address: 433 West 53rd Street
- Market: Clinton
- Lender: Shanghai Commercial Bank
- Landlord: Emmut Properties
- Square Footage: 41,617
- Units: 60
In this transaction, Shanghai Commercial Bank provided the loan for the property. The landlord of the multifamily building is Emmut Properties. These key individuals and companies played a significant role in the deal.
On the Map
$32,500,000
$780/SF
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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93