Wharton Properties Refinances Retail Property In Hell's Kitchen With $60M Loan From Bank Of China
FINANCED
$60,000,000
New York
See Similar DealsRetail12,905 SF
Financed 06/10/2022
FINANCED
Wharton Properties Refinances Retail Property In Hell's Kitchen With $60M Loan From Bank Of China
661 8th Avenue, New York City, New York 10036, United States
See Similar DealsRetail12,905 SF
Financed 06/10/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$4,649
Total Square Footage:12,905 SF
Transaction Type:Loan
Located at 661 8th Avenue in Hell's Kitchen, this retail property spans approximately 12,905 square feet. The property was involved in a recent closed transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $60,000,000
- Date: 06/10/2022
- Lender: Bank of China
- Landlord: Wharton Properties
The loan, provided by Bank of China, was a refinance loan. Jeff Sutton, the representative of the property, played a significant role in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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