W Financial Provides $8.7M Loan For Upper East Side Townhouse
123 East 61st Street, New York, NY 10065, USA
$8,700,000
$1,270/SF
Building Size
6,850 SF
Asset Type
Other
Closing
Nov 4, 2018
About this deal
AI
Abe Mann and Brit Zamoyta closed a loan transaction on a townhouse located at 123 East 61st St. in the Upper East Side of New York. The property, which has a total square footage of 8,500, was financed by W Financial.
Summary of transaction details
- Property Type: Townhouse
- Transaction Amount: $8,700,000
- Loan Term: 2 years IO
- Lender: W Financial
- Landlord: Riverside Realty Trust - Joseph Lucania
- Brokers: Abe Mann and Brit Zamoyta @Progress.Capital
This loan transaction involved the collaboration of multiple parties. Riverside Realty Trust, represented by Joseph Lucania, acted as the landlord. Abe Mann and Brit Zamoyta of Progress.Capital served as the brokers who facilitated the deal.
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
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93