Haim Nortman Secures $70M Loan For Mixed-Use Project At 362 West 125th Street, Harlem, NY
362 West 125th Street
$70,000,000
$3,124/SF
Building Size
22,402 SF
Asset Type
Retail
Closing
Mar 30, 2018
About this deal
AI
A mixed-use project located at 362 West 125th Street in Harlem, NY, has been the subject of a closed property transaction. The developer of this project is Haim Nortman, and the lender involved in financing the project is Bank Hapoalim – Ari Pinto. The transaction amount for this project is $70M, financed through a loan.
Summary of transation details
- Property Type: Mixed-use project
- Transaction Amount: $70M
- Developer: Haim Nortman
- Lender: Bank Hapoalim – Ari Pinto
This deal showcases the collaboration between Haim Nortman as the developer, and Bank Hapoalim – Ari Pinto as the lender. They have successfully closed a substantial transaction for the mixed-use project at 362 West 125th Street in Harlem, NY.
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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93