$32.96M Loan Secured By The W Group For Assisted Living Property On South Street
FINANCED
$32,960,000
New York
See Similar DealsOther70,819 SF
Financed 10/20/2021
FINANCED
$32.96M Loan Secured By The W Group For Assisted Living Property On South Street
150 South Street
See Similar DealsOther70,819 SF
Financed 10/20/2021
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$465
Total Square Footage:70,819 SF
Transaction Type:Loan
The assisted living property located at 150 South Street in Oyster Bay has recently been involved in a loan transaction. The property spans approximately 70,819 square feet and is owned by The W Group, led by Ari Weiss and Berry Weiss. The lender for this transaction was Valley National Bank.
Summary of transation details
- Property Type: Assisted Living
- Transaction Amount: $32,960,000
- Loan Terms: 83% LTC Financed
Isaac Lifshitz, representing Meridian Capital Group, served as the broker for this loan transaction.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,960,000.00
Monthly NOI$219,733.33
Monthly Debt Service$208,329.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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