Oxford Properties Group Secures $110M Mortgage For Retail Spaces At 252 East 57th Street
252 E 57th St, New York, NY 10022, USA
$110,000,000
$13,515/SF
Building Size
8,139 SF
Asset Type
Retail
Closing
Apr 22, 2018
About this deal
AI
Oxford Properties Group has purchased the leasehold interests in a retail property located at 252 East 57th Street in Manhattan, New York City. The transaction was closed with a mortgage loan of $110 million.
Summary of transaction details:
- Property Type: Retail Spaces
- Transaction Amount: $110,000,000
- Address: 252 East 57th Street, New York City
- Market: Manhattan
The landlord, Oxford Properties Group, represented by Blake Hutcheson, successfully secured the mortgage loan from Deutsche Bank, represented by Christian Sewing. This transaction represents a significant investment in the retail real estate market in Manhattan.
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93