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.
Deal Stats
Parties
No party information available for this deal.
Score Analysis
Why this score
Strong Broker Credibility
Ezra Sutton's track record of $556.7M across 26 closed deals demonstrates sophisticated debt structuring and strong lender relationships that de-risk transaction execution.
Chelsea Submarket Fundamentals
West 28th Street benefits from Chelsea's liquid market with proven retail and residential demand, supported by comparable loan activity in the $3.5M–$5.5M range.
Tight Debt Service Coverage
The 1.05x DSCR provides minimal cushion for operational hiccups or rate increases, creating vulnerability in a softening rental market or rising rate environment.
Institutional Lender Stability
Santander Bank's consistent NYC CRE presence and capitalization indicate disciplined underwriting and standard market terms, reducing lender risk.
Unknown Buyer/Seller Identity
Lack of transparency on principal parties limits ability to assess sponsor strength, prior performance, or potential workout dynamics if stress emerges.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Increase DSCR to 1.15x–1.25x
Negotiate lower loan amount or demonstrate higher NOI through rent roll verification to build buffer against market volatility and improve lender confidence.
Disclose Sponsor Identity & Track Record
Reveal buyer/seller principals and their prior NYC CRE transaction history to validate execution capability and institutional credibility.
Provide Detailed Unit Mix & Rent Roll
Submit current tenant leases, renewal rates, and market rent comparables to substantiate the NOI calculation underpinning the 1.05x DSCR.
Raw Deal Textclick to expand
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. Jainish Radadia Secures $4,563,107 Refinance Loan From Ice Cap Group For Mixed-Use Asset In Chelsea New York | Mixed-use 04/29/2026 LMF Commercial Acquires 9-Unit Mixed-Use Property In Flatiron For $3.97M New York | Mixed-use | PPSF: $433 10/21/2021 Deepdale Funding Provides $5.5M First Mortgage Bridge Loan For Mixed-Use Property In Chelsea, NY New York | Mixed-use | PPSF: $876 SA 09/30/2021 Tom Wu's ZD Jasper Realty Secures $4.6M Permanent Fixed-Rate Refinance Loan For Mixed-Use Property On W. 38th St. With Metropolitan Commercial Bank New York | Mixed-use | PPSF: $3479 02/02/2019 Derby Copeland Capital Provides $5.5 Million Acquisition Loan To Hammock Development In Flatiron District 11/04/2025 Midwood Investment & Development Secures $4.16M Refinance Loan From Peapack Private Bank & Trust 12/19/2025 Flushing Bank Provides $3.5M Loan For Mixed-Use Property In Kips Bay New York | Mixed-use | PPSF: $747 07/30/2021 Dilmanian Family Secures $5.2M Refinance Loan From Hirshmark Capital For Chelsea Mixed-Use Property 06/04/2025 Derby Copeland Capital Provides $2.975M Loan For Mixed-Use Property On Second Avenue New York | Mixed-use | PPSF: $618 + 2 04/22/2021 Hakimian Capital Provides $4,400,000 Acquisition Loan For Mixed-Use Property In Manhattan New York | Mixed-use | PPSF: $790 GW 04/06/2026 Contact Get in touch with the broker you want Name Phone (optional) Message I'm an agent Similar Lenders These are similar lenders of Mixed-use properties in this pric Hirshmark Capital $958M Volume 106 Closed Deals Emerald Creek Capital $944M Volume 72 Closed Deals Peapack Private Bank & Trust $261M Volume 5 Closed Deals Upgrade to unlock Arbor Realty Trust $6B Volume 97 Closed Deals Flushing Bank $410M Volume 35 Closed Deals Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal Abe Mann 46 Closed Deals (917) 574-3810 Brian Anderson 40 Closed Deals (732) 616-0908 Cary Pollack 20 Closed Deals (212) 612-0255 Chaim Greenfeld $153M Volume 8 Closed Deals Charles Han $400M Volume 14 Closed Deals Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. 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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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