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516-520 West 181st Street, ...

Updated Feb 16, 2024

Flushing Bank Provides $14.55M Refinance Loan For Office Property In Washington Heights
FINANCEDOffice

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.

Players

Flushing Bank
Flushing BankLender

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Deal FAQ

About $236 per square foot on a published $14.6M for 61,602 square feet (2021).

Browse New York office loans on Traded.

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

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