Morgan Stanley Provides $19.25M Acquisition Loan For Mixed Use Property On Third Avenue

The recent transaction involved the acquisition of a mixed-use property located at 419-423 Third Avenue in New York, NY. The property spans approximately 29,729 square feet and consists of twenty-eight residential units and a ground floor commercial space occupied by Simon's Hardware & Bath.

Summary of transation details

• Property Type: Mixed Use
• Transaction Amount: $19,250,000
• Loan Type: Acquisition
• Loan Amount: $19,250,000
• Loan Terms: The acquisition was financed with a 10-year loan from Morgan Stanley. The loan features a fixed interest rate of 3.97% and includes three years of interest-only payments.
• BROKERS: Bryan Manz, Emil DePasquale, & George Pektor from lackBearCapitalPartners

The transaction was facilitated by Bryan Manz, Emil DePasquale, & George Pektor of lackBearCapitalPartners. They represented the parties involved in the deal, ensuring a successful acquisition of the property.