Cross River Bank Refinances Retail Property In Chelsea, Manhattan For $13.5M
127 8th Avenue, New York City, New York 10011, United States
$13,500,000
$675,000/SF
Building Size
20 SF
Asset Type
Retail
Closing
Sep 12, 2022
AI
The retail property located at 127 8th Avenue in Chelsea, Manhattan has been refinanced. The property spans a total of 20,415 square feet, making it a valuable asset in the market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,500,000
- Address: 127 8th Avenue, Chelsea, Manhattan
- Market: Chelsea, Manhattan
Cross River Bank, with Shimon Eisikowicz as the representative, provided the refinancing loan of $13,500,000. The landlord of the property involved in this transaction is Centaur Properties, represented by Henry Hay.
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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93