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161 Maiden Ln, New York, NY...

Mack Real Estate Credit Strategies Lends To Seaport Residences In Manhattan
FINANCEDOther

Mack Real Estate Credit Strategies Lends To Seaport Residences In Manhattan

161 Maiden Ln, New York, NY 10038, USA

$66,000,000

$34,055/SF

Building Size

1,938 SF

Asset Type

Other

Closing

Sep 26, 2018

AI

Seaport Residences, a residential tower located at 161 Maiden Lane in Manhattan, has been involved in a recent transaction. The lender for this deal was Mack Real Estate Credit Strategies, represented by Richard Mack. The landlord of the property is Fortis Property Group, represented by Joel Kestenbaum and Jonathan Landau. The broker involved in this transaction was NKF Capital Market, with Dustin Stolly, Jordan Roeschlaub, Jonathan Landau, and Joel Kestenbaum as representatives.

Summary of transaction details

  • Property Type: Residential Tower
  • Lender: Mack Real Estate Credit Strategies – Richard Mack
  • Landlord: Fortis Property Group – Joel Kestenbaum and Jonathan Landau
  • Broker: NKF Capital Market – Dustin Stolly, Jordan Roeschlaub, Jonathan Landau, and Joel Kestenbaum

Richard Mack, the representative of Mack Real Estate Credit Strategies, played a crucial role in this transaction as the lender. Meanwhile, the landlord of Seaport Residences, Joel Kestenbaum and Jonathan Landau from Fortis Property Group, facilitated and managed the deal. NKF Capital Market, represented by Dustin Stolly, Jordan Roeschlaub, Jonathan Landau, and Joel Kestenbaum, served as the broker in this transaction, providing their expertise and assistance to ensure its successful completion.

Players

Dustin Stolly

Walker & Dunlop

Broker

$49.4B

vol

267 deals

Broker
Mack Real Estate Group
Mack Real Estate GroupLender
Jonathan Landau

Jonathan Landau

Fortis Property Group

Landlord

$2B

vol

8 deals

Landlord

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

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93