FINANCEDRetail
LoanCore Capital Provides $42M Loan For Retail Property On 240 E 54th St, New York
240 E 54th St, New York, NY, 10022
$42,000,000
Building Size
—
Asset Type
Retail
Closing
Nov 22, 2023
AI
The property at 240 E 54th St, New York, NY, 10022, is a retail asset located in the vibrant market of New York. The loan for this property was facilitated by LoanCore Capital, amounting to $42,000,000.00.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $42,000,000.00
- Address: 240 E 54th St, New York, NY, 10022
- Market: New York
- Borrower's Rep: Morris Betesh(Meridian Capital Group)
- Lender: LoanCore Capital
Representing the borrower in this deal is Morris Betesh from Meridian Capital Group.
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93