Flushing Bank Provides $14.55M Refinance Loan For Office Property In Washington Heights
516-520 West 181st Street, Manhattan, New York, NY, USA
$14,550,000
$236/SF
Building Size
61,602 SF
Asset Type
Office
Closing
Jul 29, 2021
About this deal
AI
The property involved in this transaction is an office located at 516-520 West 181st Street in Washington Heights. The office spans a total of 61,602 square feet.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $14,550,000
- Address: 516-520 West 181st Street
- Market: Washington Heights
- Lender: Flushing Bank
- Landlord: Salvatore DiCarlo
- Loan Type: Refinance
Flushing Bank provided a loan amount of $14,550,000 to the property owner, Salvatore DiCarlo, for the purpose of refinancing the property.
The office loan at 516-520 West 181st Street, Manhattan, New York, NY, USA in New York, New York financed for $14.6M in 2021. The building is 61,602 square feet, implying about 236 per square foot on the published price. This page is the New York, New York file for the 516-520 West 181st Street, Manhattan, New York, NY, USA office financed: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that New York office set by closing date to see what else financed near 516-520 West 181st Street, Manhattan, New York, NY, USA around 2021. Published consideration for 516-520 West 181st Street, Manhattan, New York, NY, USA is $14.6M, dated 2021. Cite this Flushing Bank Provides $14.55M Refinance Loan For Office Property In Washington Heights loan when underwriting similar office product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93