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733 Amsterdam Ave, Manhatta...

Citibank Provides $18.4M Loan For Upper West Side Retail Property
FINANCEDRetail

Citibank Provides $18.4M Loan For Upper West Side Retail Property

733 Amsterdam Ave, Manhattan, New York, NY, USA

$18,400,000

$70/SF

Building Size

262,783 SF

Asset Type

Retail

Closing

Jul 12, 2021

AI

Located in the Upper West Side, the retail property at 733 Amsterdam Ave recently secured a loan of $18,400,000. The loan was provided by citibank''>Citibank, a prominent financial institution. The property is owned by Agus Holdings and 101 Holdings, with Josh Agus serving as the landlord.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $18,400,000
  • Lender: Citibank
  • Landlord: Agus Holdings & 101 Holdings - Josh Agus

The transaction was facilitated by Morris Betesh and Morris Dabbah from Meridian Capital Group, representing the parties involved in the deal. Their expertise and negotiation skills played a crucial role in the successful completion of this loan deal. The property's prime location in the Upper West Side market adds to its overall value and potential for future growth.

Players

Morris Betesh

Arrow Real Estate Advisors

Broker

$14.3B

vol

241 deals

Broker
Citibank
CitibankLender
Agus Holdings
Agus HoldingsLandlord

New York Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.86%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93