Shanghai Commercial Bank Refinances Office Property In Little Italy, Manhattan For $22.5M
202 Centre Street, New York City, New York 10013, United States
$22,500,000
$576/SF
Building Size
39,000 SF
Asset Type
Office
Closing
Aug 18, 2022
AI
The property involved in this transaction is an office located at 202 Centre Street in Little Italy, Manhattan. The office spans approximately 39,000 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $22,500,000
- Market: Little Italy, Manhattan
The lender in this transaction is Shanghai Commercial Bank, represented by Timothy Chan and Nim Chi Lau. The landlord is Lam Group, represented by Kin Chung Lam.
This refinance loan was secured on August 19, 2022.
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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93