TD Bank Provides $14M Refinance Loan For Retail Property On Canal Street In Chinatown
250 Canal Street
$14,000,000
$3,378/SF
Building Size
4,144 SF
Asset Type
Retail
Closing
Sep 29, 2023
AI
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.
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93