SOLDNote / Loan
Lone Star Funds Acquires Note From Flagstar Bank In New York City For $8.5M
190 Allen Street & 196 Allen Street
$8,500,000
Building Size
—
Asset Type
Note / Loan
Closing
Feb 26, 2025
AI
The transaction involves a note/loan asset located at 190 Allen Street in New York City. This asset was sold for a price of $8,500,000.00.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $8,500,000.00
- Buyer: Lone Star Funds
- Seller: Flagstar Bank
- Sale Date: 02/26/2025
The deal was facilitated by Lone Star Funds, acting as the buyer, and Flagstar Bank, serving as the seller in this transaction.
New York Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93