Updated Oct 29, 2024
Signature Bank Provides $18.5M Loan For Fairstead's Multifamily Property On Broadway
3621 Broadway, New York, Ny 10031, Usa
$18,500,000
$284/SF
Building Size
65,050 SF
Asset Type
MultiFamily
Closing
Apr 6, 2020
About this deal
AI
The multifamily property located at 3621 Broadway in Hamilton Heights has been involved in a closed transaction. The property consists of 54 units and has been acquired by Fairstead. The deal was financed by Signature Bank for a loan amount of $18,500,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $18,500,000
- Units: 54
- Market: Hamilton Heights
- Address: 3621 Broadway
- Landlord: Fairstead
- Lender: Signature Bank
Stephen Siegel from Fairstead represented the landlord in the transaction.
The multifamily loan at 3621 Broadway, New York, Ny 10031, Usa in New York, Colorado financed for $18.5M in 2020. Reported inventory is 65,050 square feet across 54 units, or about 284 per square foot. This page is the New York, Colorado file for the 3621 Broadway, New York, Ny 10031, Usa multifamily financed: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else financed near 3621 Broadway, New York, Ny 10031, Usa around 2020. Published consideration for 3621 Broadway, New York, Ny 10031, Usa is $18.5M, dated 2020. Cite this Signature Bank Provides $18.5M Loan For Fairstead's Multifamily Property On Broadway loan when underwriting similar multifamily product around New York, Colorado.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93