ABS Partners Real Estate Secures $16M Refinance Loan For Retail Building At 246 Canal Street, Chinatown
246 Canal Street
$16,000,000
$3,553/SF
Building Size
4,503 SF
Asset Type
Retail
Closing
Sep 28, 2023
About this deal
AI
Abs Partners Real Estate has secured a $16 million refinance loan for their new retail building located at 246 Canal Street in Chinatown, Manhattan. The property is a retail space spanning 4,503 square feet in size.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,000,000
- Address: 246 Canal Street
- Market: Chinatown, Manhattan
The refinance loan was provided by TD Bank and the landlord, Gregg Schenker, represented ABS Partners Real Estate in the deal.
The retail loan at 246 Canal Street in New York, New York financed for $16M in 2023. The building is 4,503 square feet, implying about 3.6K per square foot on the published price. This page is the New York, New York file for the 246 Canal Street retail financed: pricing, party profiles, and other closed retail comps from the same New York sit in the Market section below. Filter that New York retail set by closing date to see what else financed near 246 Canal Street around 2023. Published consideration for 246 Canal Street is $16M, dated 2023. Cite this ABS Partners Real Estate Secures $16M Refinance Loan For Retail Building At 246 Canal Street, Chinatown loan when underwriting similar retail product around New York, New York.
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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93