Signature Bank Provides $2M Loan For Retail Property At 148 West 24th Street In Chelsea
148 West 24th Street, Manhattan, New York, NY, USA
$2,000,000
$33/SF
Building Size
60,000 SF
Asset Type
Retail
Closing
Jan 3, 2021
About this deal
AI
The retail property located at 148 West 24th Street in Chelsea, New York was recently involved in a closed transaction. The loan for this property was provided by Signature Bank for an amount of $2,000,000. The landlord of the property is Chris Okada, the owner of Okada Co. The loan originated from Ross Brenner.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $2,000,000
- Address: 148 West 24th Street
- Market: Chelsea
In addition to the loan, Chris Okada is the representative of the landlord in this deal. It is worth noting that Okada expresses his excitement for every deal and emphasizes the importance of always closing deals. He also shows confidence in the New York City market and expresses interest in buying more properties in the future.
For more information or to contact Chris Okada, you can send him a direct message or follow him on Instagram: @ChrisOkada.
On the Map
$2,000,000
$33/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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93