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HH Equities Secures $13.8M Refinance Loan With Safra National Bank For Office Building In NoMad, Manhattan
FINANCED
$13,750,000
New York
See Similar DealsOffice32,049 SF
Financed 10/04/2023
FINANCED
HH Equities Secures $13.8M Refinance Loan With Safra National Bank For Office Building In NoMad, Manhattan
246 5th Avenue
See Similar DealsOffice32,049 SF
Financed 10/04/2023
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$429
Total Square Footage:32,049 SF
Transaction Type:Loan
HH Equities, operating through Hh 246 Fifth, LLC, has secured a $13.8 million refinance loan with Safra National Bank for the office building located at 246 Fifth Avenue in NoMad, Manhattan. The building is an office asset with a total square footage of 32,049 sqft. It is situated in the NoMad market in Manhattan.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $13,750,000
- Address: 246 5th Avenue
- Market: NoMad, Manhattan
- Building Square Footage: 32,049 sqft
The loan was provided by Safra National Bank, with Stephan Mazzacca and Charles Shafer representing the bank. Meanwhile, Ariel Akkad, from HH Equities, acted as the landlord in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,750,000.00
Monthly NOI$91,666.67
Monthly Debt Service$86,909.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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