AIG Provides $43M Loan For Apartment Building In Hell's Kitchen
FINANCED
$43,000,000
New York
See Similar DealsOther17,335 SF
Financed 08/01/2019
FINANCED
AIG Provides $43M Loan For Apartment Building In Hell's Kitchen
311 W 50th St, New York, NY 10019, USA
See Similar DealsOther17,335 SF
Financed 08/01/2019
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$2,480
Total Square Footage:17,335 SF
Transaction Type:Loan
The Torkian Group has closed a transaction for an apartment building located at 311 West 50th Street in Hell's Kitchen. The property has a loan amount of $43,000,000 and is being financed by AIG. The building is situated in a prime location in the Hell's Kitchen market.
Summary of transaction details
- Property Type: Apartment building
- Transaction Amount: $43,000,000
- Lender: AIG
- Landlord: The Torkian Group
- Broker: Eric Schleif & Carol Shelby @Meridian.Capital.Group
The deal was facilitated by brokers Eric Schleif and Carol Shelby from Meridian Capital Group. They played a key role in representing the parties involved in the transaction, including the landlord, The Torkian Group.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$43,000,000.00
Monthly NOI$286,666.67
Monthly Debt Service$271,789.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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