139 West 28th Street
This is a $4.25M refinance of a mixed-use asset in Chelsea, Manhattan, one of NYC's more liquid and demand-driven submarkets with strong retail and residential fundamentals. The loan was brokered by Ezra Sutton of Meridian Capital Group, a highly regarded debt advisory shop with a strong track record — Sutton alone has closed 26 deals totaling $556.7M in volume, lending significant credibility to the transaction structure and lender selection. Santander Bank is a well-capitalized institutional lender with a consistent presence in the NYC CRE market, suggesting standard underwriting discipline and relatively favorable terms. The implied DSCR of approximately 1.05x as shown in the Traded calculator signals the deal is serviceable but leaves limited cushion, which warrants monitoring in a higher-rate or softening rent environment. Comps in the immediate Chelsea and Flatiron area reflect loan activity in the $3.5M–$5.5M range for similar mixed-use product, confirming this deal is market-rate and appropriately sized.
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Submit Growing Financial Partnerships For Over 30 Years. Get Started Deals New York Mixed Use Loan 139 West 28th Street Ezra Sutton Of Meridian Capital Group Represents Santander Bank In $4,250,000 Refinance Loan FINANCED $4,250,000 Mixed-use Financed 2 weeks ago the deal players comps contact related Summary NEW YORK Asset Type: Transaction Type: The asset involved in this transaction is a mixed-use property located at 139 West 28th Street in Chelsea, Manhattan. The refinance loan amount secured for this property is $4,250,000. Summary of transaction details: Property Type: Mixed-use Transaction Amount: $4,250,000 Lender: Santander Bank Broker: Ezra Sutton - Meridian Capital Group Loan Type: Refinance Date: 5/7/2026 The deal involves broker Ezra Sutton representing the financing for this mixed-use property, facilitating the refinance through Santander Bank. Players All Brokers Lenders Ezra Sutton 26 deals $556.7M volume BROKER Santander Bank LENDER Details Deal Summary IMAGE: Ezra Sutton DATE: 5/7/2026 ADDRESS: 139 West 28th Street MARKET: Chelsea, Manhattan ASSET TYPE: Mixed-use LENDER: Santander Bank (@SantanderBankUS) BROKER: Ezra Sutton (@Ezra_Sutton) - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $4,250,000 LOAN TYPE: Refinance Email New York | @tradedny Comps 10 These are similar deals based on proximity and similarity to the subject deal. 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Deal Type SALE LOAN LEASE Property Value Current Loan Balance Net Operating Income (Annual) Loan-to-Value (%) Interest Rate (%) Amortization Period 30 years Loan Term 10 years Reset Debt Service Coverage Ratio (DSCR) 1.05x Max Loan Amount $4,250,000.00 Monthly NOI $28,333.33 Monthly Debt Service $26,862.89 Change in Cash Flow $0.00 Refinance Proceeds Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. 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