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
About this deal
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.
On the Map
$13,500,000
$675,000/SF
Retail
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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