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Lone Star Funds Acquires Note From Flagstar Bank In New York City For $8.5M
SOLD
$8,500,000
New York
See Similar DealsNote / Loan
Sold 02/26/2025
SOLD
Lone Star Funds Acquires Note From Flagstar Bank In New York City For $8.5M
190 Allen Street & 196 Allen Street
See Similar DealsNote / Loan
Sold 02/26/2025
Summary
NEW YORK
Asset Type:Note / Loan
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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