Jay Domb's Empire Hotel Group Secures $6.5M Refinance Loan From Dime Community Bank In Midtown West

1409 6th Avenue

$6,500,000

$530/SF

Building Size

12,250 SF

Asset Type

Retail

Closing

Jun 12, 2025

AI

The retail property located at 1409 6th Avenue in Midtown West, Manhattan, encompasses a building size of 25,300 BSF and 12,250 SF. A refinancing loan of $6,500,000 has been secured for this asset.

Summary of transaction details:

Property Type: Retail
Transaction Amount: $6,500,000
Lender: Dime Community Bank
Landlord: Jay Domb - Empire Hotel Group
Loan Type: Refinance

Jay Domb's Empire Hotel Group is noted as the landlord involved in securing the refinancing loan from Dime Community Bank for the property at the specified address.

Players

Dime Community BankLender

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

2.44%

Cash-on-Cash

-0.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93