Jeff Sutton's Wharton Properties Refinances Retail Property In Harlem, Manhattan For $95M
100 West 125th Street, New York City, New York 10027, United States
$95,000,000
$591/SF
Building Size
160,501 SF
Asset Type
Retail
Closing
Sep 7, 2022
About this deal
AI
The retail property located at 100 West 125th Street in Harlem, Manhattan has recently undergone a refinancing transaction. The asset spans 160,501 square feet and is owned by Jeff Sutton, represented by Wharton Properties. The loan for this transaction was provided by Valley National Bank, amounting to $95,000,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $95,000,000
- Address: 100 West 125th Street
- Market: Harlem, Manhattan
- Owner: Jeff Sutton (Wharton Properties)
- Lender: Valley National Bank
This refinancing deal, initiated by Jeff Sutton, reflects an investment in the retail sector in Harlem, Manhattan. It signifies the confidence of Valley National Bank in the potential of this property and the stability of the market in Harlem.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93