TD Bank Provides $3.02M Loan For Retail Condo In Tribeca
146 Chambers St, New York, NY 10007, USA
$3,022,500
$156/SF
Building Size
19,260 SF
Asset Type
Retail
Closing
Sep 1, 2020
About this deal
AI
An retail condo located at 146 Chambers Street in Tribeca has been involved in a recent loan transaction. The property spans 1,926 square feet and is zoned as C6-3A. The lot size measures 25.08 feet by 76.08 feet. In this deal, a loan amount of $3,022,500 was secured with a fixed interest rate of 2.57% for a term of 5 years.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $3,022,500
- Loan Terms: 5 Years Fixed Rate of 2.57%
- SF: 1,926
- Zoning: C6-3A
- TMU Lot Size: 25.08 ft x 76.08 ft
The lender for this loan transaction was TD Bank. The landlord of the property is Jeffrey Gerson. The deal was facilitated by Simon Rosenfeld from Meridian Capital Group, representing the borrower in the transaction.
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
5.25%
Cash-on-Cash
-1.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93