Areit 2019-Cre3 Trust Provides $64.3M Loan For Office At 190 Allen Street, Lower East Side
FINANCED
$64,275,922
New York
See Similar DealsOffice98,739 SF
Financed 04/30/2021
FINANCED
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
See Similar DealsOffice98,739 SF
Financed 04/30/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$651
Total Square Footage:98,739 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$64,275,922.00
Monthly NOI$428,506.15
Monthly Debt Service$406,267.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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