FINANCEDRetail
Ralph Sitt Secures $4.5M Loan For Retail Property In NoMad With Andrews Federal Credit Union
208 Fifth Avenue, Manhattan, New York, NY, USA
$4,465,000
$192/SF
Building Size
23,261 SF
Asset Type
Retail
Closing
Dec 30, 2020
AI
Ralph Sitt secured a loan for a retail property in the NoMad market. The property is located at 208 Fifth Avenue and 1130 Broadway.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,465,000
The loan was provided by Andrews Federal Credit Union, and Stuart Bruck of Status Capital served as the broker representing Ralph Sitt. The loan terms are 5 years with an interest rate of 4.2%.
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
3.55%
Cash-on-Cash
-1.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93