JP Morgan Chase Provides $26.5M Refinance Loan For Soho Retail Property At 558 Broadway
Museum Of Ice Cream - 558 Broadway
$26,500,000
$1/SF
Building Size
25,000,000 SF
Asset Type
Retail
Closing
Dec 20, 2022
About this deal
AI
The Museum of Ice Cream building located at 558 Broadway in Soho has been involved in a loan transaction. The property, measuring 25,000,000 square feet, was refinanced for a loan amount of $26,500,000. The lender for this transaction was JP Morgan Chase.
Summary of Transaction Details:
- Property Type: Retail
- Transaction Amount: $26,500,000
- Address: 558 Broadway - Museum of Ice Cream
- Market: Soho
The landlords involved in the loan transaction were Kano Properties represented by Noam Shemel and Think Properties represented by Mark Shemel. The brokers for this transaction were Max Herzog and Marko Kazanjian from JLL.
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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93