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250 Canal Street

TD Bank Provides $14M Refinance Loan For Retail Property On Canal Street In Chinatown
FINANCEDRetail

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

Brian Warwick

ABS Altman Warwick

Broker

$506M

vol

10 deals

Broker
TD Bank
TD BankLender

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

1.13%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93