TD Bank Provides $14M Refinance Loan For Retail Property On Canal Street In Chinatown
FINANCED
$14,000,000
New York
See Similar DealsRetail4,144 SF
Financed 09/29/2023
FINANCED
TD Bank Provides $14M Refinance Loan For Retail Property On Canal Street In Chinatown
250 Canal Street
See Similar DealsRetail4,144 SF
Financed 09/29/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$3,378
Total Square Footage:4,144 SF
Transaction Type:Loan
A retail property located at 250 Canal Street in Chinatown was recently involved in a loan transaction. The property spans approximately 4,144 square feet and is owned by ABS Partners. The loan was provided by TD Bank for a refinance purpose, totaling $14,000,000. The loan terms are set for a 10-year fixed rate.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $14,000,000
- Address: 250 Canal Street
- Market: Chinatown
- Lender: TD Bank
- Landlord: ABS Partners
- Broker: Brian Warwick - ABS Altman Warwick
- Loan Type: Refinance
- Loan Terms: 10-year fixed rate
In this transaction, Brian Warwick from ABS Altman Warwick served as the broker representing ABS Partners. He played a crucial role in facilitating the loan deal for the retail property located at 250 Canal Street in Chinatown.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,000,000.00
Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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