Updated Dec 21, 2023
Ironburgh Organization Acquires Multifamily Property In New Haven, CT For $120.9M Loan
201 Munson Street
$120,900,000
$71,117/SF
Building Size
1,700 SF
Asset Type
MultiFamily
Closing
May 10, 2022
About this deal
AI
Located at 201 Munson St. in New Haven, CT, this multifamily property consists of 398 units. The transaction took place on 05/10/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $120,900,000
- Market: New Haven, CT
The loan for this transaction, in the amount of $120,900,000, was provided by ACORE Capital and Sculptor Capital Management. The construction loan type was utilized.
The Ironburgh Organization, represented by Jeffrey Chung and Jeremy Conway, along with Hudson Meridian Construction, acted as the landlords in this transaction. Tessera Partners and Capital & Venture Resources served as the brokers.
Note from Landlord: The Ironburgh Organization is actively seeking large-scale development and reposition opportunities in the tri-state area and Miami. Jeremy Conway can be contacted at [email protected] with any potential opportunities.
Players
New Haven 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93