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UI Kun Lee Acquires Retail Property In Midtown Manhattan For $10M

Property Image
FINANCED
$10,000,000

New York

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Retail13,944 SF
Financed 10/23/2018
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Property Image
FINANCED

UI Kun Lee Acquires Retail Property In Midtown Manhattan For $10M

147 West 46th Street, New York, NY 10036, USA

See Similar Deals
Retail13,944 SF
Financed 10/23/2018
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$717
Total Square Footage:13,944 SF
Transaction Type:Loan

Located at 147-149 West 46th Street, the retail property was involved in a recent transaction. The loan amount secured for this asset was $10,000,000, with a total square footage of 13,944. The deal included UI Kun Lee as the owner, Terra Nova Properties as the seller, and JP Morgan Chase as the lender. Brian Flax and Blake Orman from Meridian Capital Group served as the mortgage brokers for this transaction.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $10,000,000
  • Owner: UI Kun Lee
  • Seller: Terra Nova Properties
  • Lender: JP Morgan Chase
  • Mortgage Brokers: Brian Flax and Blake Orman @meridian.capital.group
  • Address: 147-149 West 46th Street
  • Square Footage: 13,944

Brian Flax and Blake Orman from Meridian Capital Group played a crucial role in facilitating the loan for this property transaction. Their expertise in structuring real estate deals was instrumental in securing the financing provided by JP Morgan Chase.

Players

2 deals$11.6M volume(917) 828-1493
BROKER


J.P. Morgan Chase
LENDER

Details

FINANCED
IMAGE: Brian Flax and Blake Orman DATE: 10/23/18 ADDRESS: 147-149 West 46th Street ASSET TYPE: Retail OWNER: UI Kun Lee SELLER: Terra Nova Properties LENDER: JP Morgan Chase MORTGAGE BROKER: Brian Flax ad Blake Orman @meridian.capital.group AMOUNT: $10,000,000 SQ: 13,944

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,000,000.00

Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00