Madison Realty Capital And Newbond Holdings Acquire Note/Loan On Lower East Side For $177.3M
SOLD
$177,300,000
New York
See Similar DealsOther
Sold 10/06/2022
SOLD
Madison Realty Capital And Newbond Holdings Acquire Note/Loan On Lower East Side For $177.3M
215 Chrystie Street, New York City, New York 10002, United States
See Similar DealsOther
Sold 10/06/2022
Summary
NEW YORK
Asset Type:Other
Transaction Type:Sale
Located in the Lower East Side market, the property at 215 Chrystie Street recently changed hands in a closed transaction. Madison Realty Capital and Newbond Holdings made the acquisition, purchasing the Note/Loan asset from Deutsche Bank and Aareal Bank. The deal was facilitated by Eastdil Secured, acting as the broker for the transaction. The sale price for the property amounted to $177,300,000.
Summary of transaction details
- Property Type: Note/Loan
- Transaction Amount: $177,300,000
- Buyer: Madison Realty Capital & Newbond Holdings
- Seller: Deutsche Bank & Aareal Bank
- Broker: Eastdil Secured
Josh Zegen and Neil Luthra featured in the image related to the transaction but no additional details were provided regarding their involvement. The sale date for this property was on October 6, 2022.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,456,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$629,909.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$840,492.45
Annual Debt Service$10,085,909.45
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