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.
Players
New York Other Market Snapshot
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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