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335 W 16th St, New York, NY...

Shatz Capital And Ripco Secure $39M Loan From Citibank For School In NYC
FINANCEDSchool

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

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:

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.

Players

Steven Sperandio

Cushman & Wakefield

Broker

$773.9M

vol

21 deals

Broker
Citibank
CitibankLender

New York School Market Snapshot

Boundary boundary · School · Loan transactions

Loading comparables…

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