FINANCED
Morgan Stanley Provides $19.25M Acquisition Loan For Mixed Use Property On Third Avenue
419-423 Third Avenue
MultiFamily
17,334 SF
17,334 SF
Financed 1 year ago
Summary
Loan
NEW YORK
MultiFamily
17,334 sqft
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.
Players
All
6
Agents
4
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Emil DePasquale & George Pektor
DATE: 01/21/2022
ADDRESS: 419-423 Third Avenue
MARKET: New York, NY
ASSET TYPE: Mixed Use ~ SF: 29,729
LENDER: Morgan Stanley
BROKERS: Bryan Manz, Emil DePasquale, & George Pektor - @BlackBearCapitalPartners
LOAN AMOUNT: $19,250,000
LOAN TYPE: Acquisition
LOAN TERMS: The acquisition of the twenty-eight (28) unit building, with Simon’s Hardware & Bath as the ground floor commercial tenant, was financed on a 10-year loan featuring three (3) years of interest-only payments at a fixed rate of 3.97%.View on map
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Address419-423 Third Avenue
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