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25 Church St New York, NY 1...

Meridian Capital Group Secures $31.9M Refinance Loan For Financial District Retail/Office Property
FINANCEDRetail

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

David Hayum

Meridian Capital Group

Broker

$877.7M

vol

21 deals

Broker
David Oheb
Verified Badge

David Oheb

Meridian Capital Group

Broker

$821.5M

vol

77 deals

Broker
Bank of America
Bank of AmericaLender

New York Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

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