Longline Holdings Lends $18 Million To Delshah Capital For Retail Property In Manhattan
FINANCED
$18,000,000
New York
See Similar DealsRetail22,500 SF
Financed 12/31/2024
FINANCED
Longline Holdings Lends $18 Million To Delshah Capital For Retail Property In Manhattan
777 7th Avenue
See Similar DealsRetail22,500 SF
Financed 12/31/2024
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$800
Total Square Footage:22,500 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,000,000.00
Monthly NOI$120,000.00
Monthly Debt Service$113,772.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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