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7 East 14th Street

Meridian Capital Group Arranges $12M Refinance Loan For The Victoria Co-Op Shares
FINANCEDOther

Meridian Capital Group Arranges $12M Refinance Loan For The Victoria Co-Op Shares

7 East 14th Street

$12,000,000

Units

63

Asset Type

Other

Closing

Sep 14, 2022

AI

The Victoria, located at 7 East 14th Street in Manhattan, has recently undergone a closed transaction. The property is a Co-Op Shares asset consisting of 63 units.

Summary of transation details

  • Property Type: Co-Op Shares
  • Transaction Amount: Not specified
  • Address: 7 East 14th Street, Manhattan
  • Market: Manhattan

In this transaction, the loan for The Victoria was provided by Metropolitan Bank, with Vivek Baid and Alex Rosen representing the lender. The loan amount for this refinance deal was $12,000,000. The loan terms included a fixed interest rate of 5.125% for 5 years, with the full term being interest only.

Markwood Enterprises, owned by the Mehdizadeh Family, acted as the landlord in this transaction. Representing the buyer and seller in this deal were David Oheb and John Bianco from Meridian Capital Group.

Meridian Capital Group, represented by David Oheb, is a prominent real estate finance and advisory firm. In 2021, they successfully closed over $55 billion in financing across various property types. For further information on their services and how they can assist with portfolio management, David Oheb can be contacted directly at 212-612-0193 or via email at [email protected].

Players

David Oheb
Verified Badge

David Oheb

Meridian Capital Group

Broker

$863.7M

vol

78 deals

Broker
ME
Markwood EnterprisesLandlord

New York Other Market Snapshot

Boundary boundary · Other · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93