Joy Construction And Maddd Equities Acquire Rental Property In Manhattan For $45M
445 W 35th St, New York, NY 10001, USA
$45,000,000
$67,669/SF
Building Size
665 SF
Asset Type
Other
Closing
Oct 7, 2018
About this deal
AI
Joy Construction and Maddd Equities have closed a transaction for a rental property located at 445 West 35th Street in Manhattan, New York. The property, with an address in the heart of the city, was secured with a loan amount of $45,000,000 from Bank Leumi.
Summary of transaction details
- Property Type: Rental
- Transaction Amount: $45,000,000
- Lender: Bank Leumi
- Landlord/Developer: Joy Construction and Maddd Equities
This transaction showcases the collaboration between Joy Construction and Maddd Equities, two prominent players in the real estate industry. Both companies have successfully closed the deal, securing funding from Bank Leumi to develop this rental property in Manhattan. The property's central location and the strong partnership between the developers make it an attractive investment opportunity.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93