Goldman Sachs Provides $25M Loan For 1050 Third Avenue Co-op On Upper East Side
1050 Third Avenue, Manhattan, New York, NY, USA
$25,000,000
$162/SF
Building Size
153,890 SF
Asset Type
Other
Closing
Aug 31, 2021
About this deal
AI
The co-op located at 1050 Third Avenue in the Upper East Side has been involved in a recent loan transaction. The property spans a total of 153,890 square feet and consists of 70 units. The loan amount for this transaction is $25,000,000.
Summary of transaction details
- Property Type: Co-op
- Transaction Amount: $25,000,000
- Address: 1050 Third Avenue
- Market: Upper East Side
- Square Footage: 153,890
- Units: 70
The lender for this transaction is David Solomon from Goldman Sachs. The landlords associated with the property are Gary Katz, Wendy Katz, and Meredith Katz.
On the Map
$25,000,000
$162/SF
Other
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Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93