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ABS Partners Real Estate Secures $16M Refinance Loan For Retail Building At 246 Canal Street, Chinatown
FINANCED
$16,000,000
New York
See Similar DealsRetail4,503 SF
Financed 09/28/2023
FINANCED
ABS Partners Real Estate Secures $16M Refinance Loan For Retail Building At 246 Canal Street, Chinatown
246 Canal Street
See Similar DealsRetail4,503 SF
Financed 09/28/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$3,553
Total Square Footage:4,503 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,000,000.00
Monthly NOI$106,666.67
Monthly Debt Service$101,130.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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