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Eretz Group Secures $27.6M Refinance Loan From Israel Discount Bank For 252 West 37th Street
FINANCED
$27,600,000
New York
See Similar DealsOffice139,629 SF
Financed 01/06/2026
FINANCED
Eretz Group Secures $27.6M Refinance Loan From Israel Discount Bank For 252 West 37th Street
252 West 37th Street
See Similar DealsOffice139,629 SF
Financed 01/06/2026
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$197
Total Square Footage:139,629 SF
Transaction Type:Loan
The asset involved in the transaction is an office property located at 252 West 37th Street in the Garment District of Manhattan, comprising a total square footage of 139,629. The loan amount for this refinancing transaction is $27,600,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $27,600,000
- Lender: Israel Discount Bank
- Landlord: Eretz Group
- Prior Debt: $34,400,000 held by Comm 2014-CCRE16 and KeyBank
Eretz Group’s Sheva 7 LLC is managing the refinancing of the office building, indicating a strategic financial move to replace existing debt with a new loan from Israel Discount Bank.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,600,000.00
Monthly NOI$184,000.00
Monthly Debt Service$174,450.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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