HSBC Provides $15M Loan For Retail Building At 595 Fifth Avenue In Midtown East, Manhattan
595 5th Avenue
$15,000,000
$1,500/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Nov 9, 2023
AI
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
Troy 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93