CIM Group Provides $120M Loan For Residential And Retail Property At 685 Fifth Avenue
FINANCED
$120,000,000
New York
See Similar DealsRetail7,302 SF
FINANCED
CIM Group Provides $120M Loan For Residential And Retail Property At 685 Fifth Avenue
685 5th Ave, New York, NY 10022, USA
See Similar DealsRetail7,302 SF
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$16,433
Total Square Footage:7,302 SF
Transaction Type:Loan
The property asset located at 685 Fifth Avenue, in the Midtown market, has been involved in a closed transaction. The property consists of residential and retail spaces.
Summary of transaction details
- Property Type: Residential & Retail
- Transaction Amount: $120,000,000
- Lender: CIM Group
- Landlord: Michael Shvo, Deutsche Finance & The Bilgili Group
The deal's key individuals involved in this transaction include Shaul Kuba, Avi Shemesh, Michael Shvo, and Serdar Bilgili. These individuals represent the interests of the buyer, seller, landlord, and tenant. NOTE: No additional information was provided about the specific roles played by these individuals or the agencies they represent, such as the buyers' representation or the landlord's representation.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$120,000,000.00
Monthly NOI$800,000.00
Monthly Debt Service$758,481.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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