Yosef Nazar Secures $12M Refinance Loan For Garment District Properties In Manhattan
36 W 36th St. New York, NY 10018, USA
$12,000,000
$431/SF
Building Size
27,811 SF
Asset Type
Retail
Closing
May 5, 2023
About this deal
AI
Yosef Nazar's 130 West 37th Street Assets LLC has secured a $12m refinance loan from Bank Hapoalim for three properties in Manhattan's Garment District. The properties include a retail building located at 36 West 36th Street, an office building located at 130 West 37th Street, and another retail building located at 976 Sixth Avenue. These properties have a combined total square footage of 27,811 and are situated in a prime location in the Garment District.
Summary of transaction details
- Property Type: Retail & Office
- Transaction Amount: $12,000,000
- Lender: Bank Hapoalim - Peter Durichko
- Landlord: Yosef Nazar
Yosef Nazar, as the landlord of the properties, successfully secured the $12m refinance loan from Bank Hapoalim through the representation of Peter Durichko. This loan will provide Nazar with the necessary funds to support and further develop these valuable assets in the Garment District of Manhattan.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Deal FAQ
Browse New York retail loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93