Longline Holdings Lends $18 Million To Delshah Capital For Retail Property In Manhattan
777 7th Avenue
$18,000,000
$800/SF
Building Size
22,500 SF
Asset Type
Retail
Closing
Dec 31, 2024
About this deal
AI
The retail asset located at 777 7th Avenue in Manhattan encompasses a total square footage of 22,500. The property is involved in a refinancing loan that amounts to $18,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $18,000,000
- Lender: Longline Holdings
- Landlord: Michael Shah - Delshah Capital
- Brokers: James Murad & Adam Hakim - Ripco
- Date: 12/31/2024
This transaction highlights the collaboration between key individuals in the real estate sector, specifically brokers James Murad and Adam Hakim from Ripco, who facilitated the refinancing, representing the landlord Michael Shah of Delshah Capital in the deal.
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93