Meridian Capital Group Arranges $9M Refinance Loan For Lenox Hill Office Space
21 East 69th Street
$9,000,000
$1,142/SF
Building Size
7,880 SF
Asset Type
Office
Closing
Aug 30, 2022
About this deal
AI
Located in the desirable Lenox Hill neighborhood, the office property at 21 East 69th Street has been involved in a recent loan transaction. The property spans across 7,880 square feet, providing ample space for businesses to thrive in this vibrant market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $9,000,000
- Loan Type: Refinance
- Loan Terms: 10-year term, 30-year amortization, 4.34% interest rate
Assisting with this financing deal were Matt Buggenhagen and Jason Labriola from Meridian Capital Group. Known for their expertise in handling complex transactions, Matt Buggenhagen and Jason Labriola were instrumental in securing this $9,000,000 refinance loan for the property at 21 East 69th Street.
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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93