Shanghai Commercial Bank Provides $32.5 Million Loan For Multifamily Property On West 53rd Street
FINANCED
$32,500,000
New York
See Similar DealsMultiFamily41,617 SF
Financed 06/28/2021
FINANCED
Shanghai Commercial Bank Provides $32.5 Million Loan For Multifamily Property On West 53rd Street
433 West 53rd Street, Manhattan, New York, NY, USA
See Similar DealsMultiFamily41,617 SF
Financed 06/28/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$780
Total Square Footage:41,617 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,500,000.00
Monthly NOI$216,666.67
Monthly Debt Service$205,422.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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