Apple Bank For Savings Provides $35.85M Refinance Loan For 2 Fifth Avenue Co-op In Greenwich Village
2 5th Avenue, Manhattan, New York, NY, USA
$35,850,000
$76/SF
Building Size
469,263 SF
Asset Type
Other
Closing
Oct 4, 2021
About this deal
AI
The co-op located at 2 5th Avenue in Greenwich Village has undergone a loan refinancing transaction. The loan was provided by Apple Bank For Savings, with a loan amount of $35,850,000. The property is owned by the 2 Fifth Avenue cooperative and consists of 343 units. The co-op spans a total area of approximately 469,263 square feet.
Summary of transaction details:
- Property Type: Co-op
- Transaction Amount: $35,850,000
- Address: 2 5th Avenue
- Market: Greenwich Village
- Units: 343
- Loan Type: Refinance
- Lender: Apple Bank For Savings
- Landlord: 2 Fifth Avenue cooperative
- Asset Size: 469,263 sq ft
The deal's key individuals and companies include Apple Bank For Savings as the lender and the 2 Fifth Avenue cooperative as the landlord. The loan refinance transaction involves a significant amount of money and will have an impact on the co-op and its residents.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93