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
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