$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:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Loan Type: Refinance
- Address: Mulberry Street
- Market: Manhattan
- Landlord: Nathan Halegua & Joshua Halegua - Jonis Realty
- Brokers: Morris Betesh, Justin Boruchov & Morris Dabbah - Arrow Real Estate Advisors
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
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