Equitas Capital Group Secures $2.5M Acquisition Loan For 116 Central Park South Office
116 Central Park South
$2,500,000
$1,245/SF
Building Size
2,008 SF
Asset Type
Office
Closing
Oct 27, 2022
AI
The office property located at 116 Central Park South, Unit # 3 in New York has recently undergone a closed transaction. Spanning over 2,008 square feet, this asset was involved in an acquisition deal.
Summary of transation details
- Property Type: Office
- Transaction Amount: $2,500,000
- Loan Type: Acquisition
- Loan Terms: 100% LTV!!!, Rate: 5.6%, Term: 10 years fixed, Amm: 25 years, Pre-pay: Step-down
The deal was facilitated by Equitas Capital Group, with their brokers Alex Leykind and Zarina Bazakova representing the parties involved.
For those seeking commercial financing options, Equitas Capital Group serves as the ideal boutique brokerage. With access to the lowest interest rates and favorable terms, they can assist you in securing a loan. Feel free to reach out to them and inquire further about their services.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
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