Genesis LLC Secures $28.5 Million Recapitalization Loan For Office At 136 East 57th Street
FINANCED
New York
See Similar DealsOffice100,000 SF
Financed 02/23/2026
FINANCED
Genesis LLC Secures $28.5 Million Recapitalization Loan For Office At 136 East 57th Street
136 East 57th Street
See Similar DealsOffice100,000 SF
Financed 02/23/2026
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$285
Total Square Footage:100,000 SF
Transaction Type:Loan
The property asset involved in this transaction is an office located at 136 East 57th Street in Manhattan, encompassing a total square footage of 100,000. The loan amount for this recapitalization is $28,500,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $28,500,000
- Loan Type: Recapitalization
- Lender: Genesis LLC
- Key Individuals: Michael Hess, Jake Gerber, Ezra Husney
- Market: Manhattan
The deal includes the involvement of Genesis LLC as the lender, represented by Michael Hess, Jake Gerber, and Ezra Husney, who facilitated the loan transaction concerning the office property located at 136 East 57th Street.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,500,000.00
Monthly NOI$190,000.00
Monthly Debt Service$180,139.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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