FINANCEDOffice
Habib American Bank Provides $4.95M Refinance Loan For Office Building In Financial District, New York
27 Whitehall St New York, NY 10004, USA
$4,950,000
$309/SF
Building Size
16,000 SF
Asset Type
Office
Closing
Jun 7, 2023
About this deal
AI
The property involved in this transaction is an office space located at 27 Whitehall Street in the Financial District of New York, NY. The property spans 16,000 square feet and is being refinanced.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,950,000
- Lender: Habib American Bank
- Brokers: David Oheb & John Bianco - Meridian Capital Group
- Loan Type: Refinance
- Loan Terms: 6.50% Fixed Rate, Five Year Term, 30 Year Amortization, Extremely Flexible Prepayment Penalty
The loan is being provided by Habib American Bank and the brokers involved in the deal are David Oheb and John Bianco from the Meridian Capital Group. The loan amount is $4,950,000 and it is a refinance loan with a fixed rate of 6.50%. The loan has a five-year term and a 30-year amortization period. It also offers an extremely flexible prepayment penalty.
For more information on how Meridian can add value to your portfolio, please contact David Oheb at 212-612-0193 or [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.20%
Cash-on-Cash
-0.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93