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HSBC Provides $15M Loan For Retail Building At 595 Fifth Avenue In Midtown East, Manhattan

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FINANCED
$15,000,000

New York

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Retail10,000 SF
Financed 11/09/2023
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Property Image
FINANCED

HSBC Provides $15M Loan For Retail Building At 595 Fifth Avenue In Midtown East, Manhattan

595 5th Avenue

See Similar Deals
Retail10,000 SF
Financed 11/09/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,500
Total Square Footage:10,000 SF
Transaction Type:Loan

Yeung Chi Shing Holding and Kingsville Investments, represented by 595 Fifth Avenue Inc., modified a $15 million loan with HSBC Bank for the retail building at 595 Fifth Avenue in Midtown East, Manhattan. The property is a retail building with a total square footage of 10,000. The address of the property is 595 5th Avenue in Midtown East, Manhattan.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $15,000,000
  • Loan Amount: $15,000,000
  • Lender: HSBC
  • Landlord: Wendy Kan - Yeung Chi Shing Holding & Kingsville Investments
  • Market: Midtown East, Manhattan
  • Address: 595 5th Avenue
  • Square Footage: 10,000

Wendy Kan is the landlord of the property and is represented by Yeung Chi Shing Holding and Kingsville Investments. HSBC Bank provided the loan for the modification of the $15 million loan. The deal was facilitated by 595 Fifth Avenue Inc.

Players

HSBC
HSBC
LENDER

Details

FINANCED
IMAGE: 11/09/2023 ADDRESS: 595 5th Avenue MARKET: Midtown East, Manhattan ASSET TYPE: Retail ~ SF: 10,000 LENDER: HSBC LANDLORD: Wendy Kan - Yeung Chi Shing Holding & Kingsville Investments LOAN AMOUNT: $15,000,000 NOTE: Yeung Chi Shing Holding and Kingsville Investments, represented by 595 Fifth Avenue Inc., modified a $15 million loan with HSBC Bank for the retail building at 595 Fifth Avenue in Midtown East, Manhattan.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$15,000,000.00

Monthly NOI$100,000.00
Monthly Debt Service$94,810.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00