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City National Bank Provides $2M Acquisition Loan For Retail Property On Grand Street

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FINANCED
$2,000,000

New York

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Retail
Financed 05/06/2024
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Property Image
FINANCED

City National Bank Provides $2M Acquisition Loan For Retail Property On Grand Street

96 Grand Street

See Similar Deals
Retail
Financed 05/06/2024
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Summary

NEW YORK
Asset Type:Retail
Transaction Type:Loan

The retail property located at 96 Grand Street in Soho, Manhattan was involved in a recent transaction. The loan amount secured for this acquisition was $2,000,000 provided by City National Bank.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,000,000
  • Address: 96 Grand Street
  • Market: Soho, Manhattan

Scott Miller from Meridian Capital Group served as the broker in this deal, representing the parties involved in the acquisition loan. The transaction highlights the collaborative efforts of the lender, City National Bank, and the broker, Scott Miller, in facilitating the successful financing of this retail property.

Players

Scott Miller
14 deals$596.9M volume
BROKER

City National Bank
LENDER

Details

FINANCED
IMAGE: Scott Miller DATE: 05/06/2024 ADDRESS: 96 Grand Street MARKET: Soho, Manhattan ASSET TYPE: Retail LENDER: City National Bank BROKER: Scott Miller - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $2,000,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,000,000.00

Monthly NOI$13,333.33
Monthly Debt Service$12,641.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00