Meridian Capital Group Secures $31.9M Refinance Loan For Financial District Retail/Office Property
25 Church St New York, NY 10007, USA
$31,915,000
$595/SF
Building Size
53,634 SF
Asset Type
Retail
Closing
May 11, 2023
AI
The property involved in this closed transaction is a retail/office space located at 25 Church Street in the Financial District of New York, NY. The property spans an area of 53,634 square feet.
Summary of transaction details
- Property Type: Retail/Office
- Transaction Amount: $31,915,000
- Address: 25 Church Street
- Market: Financial District – New York, NY
The deal was facilitated by Meridian Capital Group, with brokers David Oheb, David Hayum, John Bianco, and Sam Katz representing the parties involved. The lender in this transaction was Bank of America, specifically through their Balance Sheet financing.
The major tenants of the property include Mercer Labs Museum of Art and Technology and Century 21 Downtown Manhattan Flagship.
For more information on how Meridian can add value to your portfolio, please contact David Oheb at 212-612-0193 or [email protected], and David Hayum at 212-612-0289 or [email protected].
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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93