Signature Acquisitions Secures $7.4 Million Acquisition Loan For Retail Asset In Manhattan

The property asset involved in this transaction is a retail space located at 305 2nd Avenue in Manhattan. It encompasses a total square footage of 20,000. The acquisition loan amount for this property is $7,400,000 with a loan type categorized as Acquisition. The financed deal is structured with a 5.70% rate, no prepayment penalty, an 80% loan-to-value ratio, and a fee of 0.5%.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,400,000
• Loan Type: Acquisition
• Loan Terms: 5.70% Rate, No Prepayment Penalty, 80% LTV, 0.5% Fee
• Address: 305 2nd Avenue
• Market: Manhattan
• Landlord: Signature Acquisitions
• Brokers: Sara Frankel & Adrian Edery - Two50 Capital Group

Key individuals involved in this transaction include the brokers Sara Frankel and Adrian Edery from Two50 Capital Group, representing the landlord, Signature Acquisitions, in the acquisition of this retail asset at the specified address in Manhattan.