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
$60,000,000
$4,649/SF
Building Size
12,905 SF
Asset Type
Retail
Closing
Jun 9, 2022
About this deal
AI
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.
The retail loan at 661 8th Avenue, New York City, New York 10036, United States in New York, New York financed for $60M in 2022. The building is 12,905 square feet, implying about 4.6K per square foot on the published price. Wharton Properties appears on the loan alongside Wharton Properties. This page is the New York, New York file for the 661 8th Avenue, New York City, New York 10036, United States retail financed: pricing, party profiles, and other closed retail comps from the same New York sit in the Market section below. Filter that New York retail set by closing date to see what else financed near 661 8th Avenue, New York City, New York 10036, United States around 2022. Published consideration for 661 8th Avenue, New York City, New York 10036, United States is $60M, dated 2022. Cite this Wharton Properties Refinances Retail Property In Hell's Kitchen With $60M Loan From Bank Of China loan when underwriting similar retail product around New York, New York.
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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93