Provides $7 Million Refinance Loan For Office Building At 324 Lafayette Street
324 Lafayette Street
$7,000,000
$7,000,000/SF
Building Size
1 SF
Asset Type
Office
Closing
Feb 14, 2025
About this deal
AI
The office asset involved in this transaction is located at 324 Lafayette Street in Noho, Manhattan. The loan amount secured for this property is $7,000,000, and the financing type is a refinance. The loan is characterized by a 5-year fixed-rate term with 3 years of interest-only payments.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,000,000
- Lender:
- Broker: Dovid Ostrov & Dovid Kaufman - Meridian Capital Group
- Loan Terms: 5 year fixed rate loan; 3 years interest only payments
Dovid Ostrov and Dovid Kaufman from Meridian Capital Group arranged the non-recourse financing for this lower Manhattan office building, showcasing their expertise in facilitating impactful financial solutions for commercial real estate assets.
On the Map
$7,000,000
$7,000,000/SF
Office
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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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93