Areit 2019-Cre3 Trust Provides $64.3M Loan For Office At 190 Allen Street, Lower East Side
190 Allen Street, Manhattan, New York, NY, USA
$64,275,922
$651/SF
Building Size
98,739 SF
Asset Type
Office
Closing
Apr 29, 2021
About this deal
AI
The office property located at 190 Allen Street in the Lower East Side has been involved in a recent loan transaction. The loan was provided by Areit 2019-Cre3 Trust, with a total amount of $64,275,922. The office space spans a total of 98,739 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $64,275,922
- Address: 190 Allen Street
- Market: Lower East Side
- Landlord: Michael Pomeranc
- Lender: Areit 2019-Cre3 Trust
Michael Pomeranc, the landlord of the property, was involved in the loan transaction. He represents the landlord's interests in this deal.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93