Progress Capital And FM Home Loans Secure $6.5M Loan For Soho Office Condo On 580 Broadway
580 Broadway, Hastings-On-Hudson, NY 10706, USA
$6,500,000
$520/SF
Building Size
12,500 SF
Asset Type
Office
Closing
Mar 12, 2020
About this deal
AI
580 Broadway, located in Soho, has recently closed a transaction involving an office condo. The property spans across a total area of 12,500 square feet. The deal was finalized on March 13, 2020.
Summary of transaction details
- Property Type: Office Condo
- Transaction Amount: $6,500,000
- Lender: Axos Bank
- Landlord: Vittorio Antonini
Abe Mann from Progress Capital and Steven Esses from FM Home Loans were the brokers involved in this deal. They represented the respective parties and played a crucial role in the successful completion of the transaction.
Players
Hastings On Hudson Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Visit Abe Mann to view all their deals.
Browse Hastings On Hudson office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93