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Mulberry Street

$9 Million Refinance Secured By Morris Betesh Justin Boruchov And Morris Dabbah For Retail Asset In Manhattan
FINANCEDRetail

$9 Million Refinance Secured By Morris Betesh Justin Boruchov And Morris Dabbah For Retail Asset In Manhattan

$9,500,000

$9,500,000/SF

Building Size

1 SF

Asset Type

Retail

Closing

Apr 8, 2025

AI

The property asset involved in this transaction is a retail space located on Mulberry Street in Manhattan. It is secured by a loan amount of $9,000,000, which has been categorized as a refinance. The particulars of the asset include its strategic position in a prominent market area known for retail activity.

Summary of transaction details:

The deal is represented by brokers Morris Betesh, Justin Boruchov, and Morris Dabbah from Arrow Real Estate Advisors, who facilitated the refinance transaction, showcasing their expertise in handling retail properties in high-demand markets.

Players

Justin Boruchov

Arrow Real Estate Advisors

Broker

$510.5M

vol

13 deals

Broker

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

1.67%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93