Wharton Properties Refinances Retail Property On West 125th Street In Harlem With $23M Loan
324 W 125th St, New York, NY 10027, USA
$23,000,000
$646/SF
Building Size
35,572 SF
Asset Type
Retail
Closing
Nov 25, 2018
About this deal
AI
A retail property located at 324 West 125th Street in Harlem has recently undergone a refinancing transaction. The loan amount for this transaction was $23,000,000. The property is owned by Wharton Properties and the landlord was represented by Abe Mann from Progress Capital. The lender involved in this transaction was Wells Fargo.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $23,000,000
- Address: 324 West 125th Street
- Market: Harlem
Abe Mann from Progress Capital represented the landlord, Wharton Properties, in this refinancing deal.
On the Map
$23,000,000
$646/SF
Retail
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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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93