478 Third Avenue

Location: New York, NY
Type: Mixed Use
Price: $6,900,000

SMC provided a $6,900,000 loan to refinance a mixed use building located in Manhattan’s Murray Hill neighborhood, on Third Avenue between East 32nd Street and East 33rd Street. The Property is a five-story walk-up building with 2,200 SF of commercial space located on the first floor and 16 residential units located on the second through fifth floors. The commercial space is currently 100% occupied by 7-Eleven.

SMC’s loan proceeds were used to refinance a 2007-vintage CMBS loan.