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
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
Loading comparables…
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