Equitas Capital Group Arranges $2.5M Acquisition Loan For 116 Central Park South Office
116 Central Park South, New York City, New York 10019, United States
$2,500,000
$1,245/SF
Building Size
2,008 SF
Asset Type
Office
Closing
Oct 26, 2022
AI
Equitas Capital Group has facilitated a loan of $2,500,000 for the acquisition of an office property located at 116 Central Park South, Unit #3 in New York. The property spans 2,008 square feet and was financed with a loan that offers favorable terms.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,500,000
- Loan Type: Acquisition
- Loan Terms: 100% LTV, Rate: 5.6%, Term: 10 years fixed, Amortization: 25 years, Pre-pay: Step-down
Alex Leykind and Zarina Bazakova from Equitas Capital Group served as the brokers in this transaction. Equitas Capital Group is a premier boutique brokerage known for securing loans with the lowest rates and best terms. They are dedicated to helping clients with their commercial financing needs.
Players
New York Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93