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393 West End Avenue, New Yo...

Simon Baron Development Group Secures $105M Loan For 393 W End Ave Rental On UWS
FINANCEDRetail

Simon Baron Development Group Secures $105M Loan For 393 W End Ave Rental On UWS

393 West End Avenue, New York, NY, USA

$105,000,000

$783/SF

Building Size

134,000 SF

Asset Type

Retail

Closing

Mar 4, 2019

AI

The rental property located at 393 W End Ave in the Upper West Side (UWS) was recently involved in a closed transaction. The property, owned by Simon Baron Development Group, was financed by M&T Bank with a loan amount of $105,000,000. The property spans approximately 134,000 square feet and consists of 114 units. Ayush Kapahi from HKS Real Estate Advisors represented the parties involved in the deal.

Summary of transaction details

  • Property Type: Rental
  • Transaction Amount: $105,000,000
  • Address: 393 W End Ave
  • Market: UWS
  • Square Footage: 134,000
  • Units: 114
  • Lender: M&T Bank
  • Landlord: Simon Baron Development Group
  • Broker: Ayush Kapahi - HKS Real Estate Advisors

This transaction showcases the collaborative effort of the parties involved, including the property owner, Simon Baron Development Group, and the financing provided by M&T Bank. Ayush Kapahi of HKS Real Estate Advisors played a significant role as the broker representing the parties throughout the deal.

Players

Ayush Kapahi

HKS Real Estate Advisors

Broker

$809.3M

vol

8 deals

Broker
SG
SB Development GroupLandlord

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

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93