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207 West 28th Street

Updated Jul 29, 2025

Chun Yee Yung Refinances Chelsea Office Building At 207 West 28th Street For $17M With Cathay Bank
FINANCEDOffice

Chun Yee Yung Refinances Chelsea Office Building At 207 West 28th Street For $17M With Cathay Bank

207 West 28th Street

$17,000,000

Building Size

—

Asset Type

Office

Closing

Jun 26, 2025

About this deal

AI

Chun Yee Yung refinanced an office building located at 207 West 28th Street in Chelsea, Manhattan. The building encompasses 57,414 square feet and a total building size of 98,800 BSF. The loan amount for this transaction was $17,000,000.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $17,000,000
  • Address: 207 West 28th Street
  • Market: Chelsea, Manhattan
  • Lender: Cathay Bank
  • Landlord: Chun Yee Yung
  • Loan Type: Refinance
  • Previous Loan Amount: $19,500,000

The deal involved Chun Yee Yung as the landlord, who executed the refinancing of the property with a new loan from Cathay Bank. This refinancing replaced a prior loan, indicating a financial restructuring of the asset under Yung's management.

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$17,000,000

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Cathay Bank
Cathay BankLender
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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.93%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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