Citi Lends $21.5M For Retail Property Acquisition On Seventh Avenue, Chelsea
FINANCED
$21,500,000
Victoria
See Similar DealsRetail11,874 SF
Financed 02/28/2020
FINANCED
Citi Lends $21.5M For Retail Property Acquisition On Seventh Avenue, Chelsea
116 Seventh Ave, Rosebud Vic 3939, Australia
See Similar DealsRetail11,874 SF
Financed 02/28/2020
Summary
Asset Type:Retail
Price Per Square Foot:$1,810
Total Square Footage:11,874 SF
Transaction Type:Loan
A retail property located at 116 Seventh Avenue in Chelsea has recently been involved in a closed transaction. The property spans across 11,874 square feet and was purchased for a total amount of $21,500,000. The asset is owned by ACHS Management, represented by Alex & Bobby Adjmi.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $21,500,000
- Address: 116 Seventh Avenue
- Square Footage: 11,874
- Market: Chelsea
The transaction was financed by @Citi, serving as the lender in the deal. ACHS Management, led by Alex & Bobby Adjmi, acted as the landlord in this transaction.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$21,500,000.00
Monthly NOI$143,333.33
Monthly Debt Service$135,894.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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