Shatz Capital And Ripco Secure $39M Loan From Citibank For School In NYC
335 W 16th St, New York, NY, 10011
$39,000,000
Building Size
—
Asset Type
School
Closing
May 28, 2021
About this deal
AI
The asset involved in this transaction is a school located at 335 W 16th St, New York, NY, 10011. The loan amount secured for this property is $39,000,000.00 in the New York market.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $39,000,000.00
- Address: 335 W 16th St, New York, NY, 10011
- Market: New York
- Lender: citibank-Citibank
- Borrower's Representatives: Matthew Shatz-Shatz Capital, Steven Sperandio-Ripco
The key individuals involved in this transaction include representatives from both the borrower and the lender, with Matthew Shatz from Shatz Capital and Steven Sperandio from Ripco acting on behalf of the borrower. Citibank serves as the lender for this financial agreement.
On the Map
$39,000,000
School
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Players
New York School Market Snapshot
Boundary boundary · School · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93