Emerald Creek Capital Provides $3.5M Acquisition Loan For Office In Midtown East
250 East 49th Street
$3,500,000
$359/SF
Building Size
9,729 SF
Asset Type
Office
Closing
Aug 11, 2022
AI
The office property located at 250 E. 49th St. in Midtown East has recently undergone a loan transaction. The property spans a total of 9,729 square feet and is classified as an office asset. The transaction took place on August 11, 2022.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $3,500,000
- Lender: Emerald Creek Capital
- Broker: Charlie Rimkus (Capstone Companies)
- Loan Type: Acquisition
Emerald Creek Capital provided a loan of $3,500,000 for the acquisition of the office property at 250 E. 49th St. Charlie Rimkus from Capstone Companies acted as the broker in this transaction.
Players
Hialeah 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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93