Blue Sky Real Estate Development Secures $52M Loan For Apartment Building On Broadway
3060 Broadway, New York, NY 10027, USA
$52,000,000
$5,208/SF
Building Size
9,983 SF
Asset Type
Other
Closing
Jul 23, 2019
About this deal
AI
The apartment building located at 3060 Broadway in Morningside Heights was involved in a recent closed property transaction. The property, owned by Blue Sky Real Estate Development, received a loan amount of $52,000,000 from CGA Mortgage Capital.
Summary of transaction details
- Property Type: Apartment building
- Transaction Amount: $52,000,000
- Address: 3060 Broadway
- Market: Morningside Heights
Philip Silverman shared an image of the property, providing a visual representation of its features and location. As the lender in this transaction, CGA Mortgage Capital played a significant role in providing the necessary funds for the purchase of the property by Blue Sky Real Estate Development.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93