Updated Feb 16, 2024
Signature Bank Provides $23.2M Loan For Hamilton Heights Multifamily Property
736 Riverside Drive, Hamilton, AL, USA
$23,200,000
$180/SF
Building Size
128,466 SF
Asset Type
MultiFamily
Closing
Apr 5, 2021
About this deal
AI
Located in Hamilton Heights and Fordham, the multifamily property at 736 Riverside Drive, 2356 Grand Concourse & 2366 Grand Concourse has recently been involved in a loan transaction. The property spans across 128,466 square feet and consists of 124 units. The loan amount secured for this property is $23,200,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $23,200,000
- Address: 736 Riverside Drive, 2356 Grand Concourse & 2366 Grand Concourse
- Market: Hamilton Heights, Fordham
The lender for this loan is Signature Bank, while the landlord associated with the property is Edward Ostad.
Players
Hamilton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93