Affinity Federal Credit Union Provides $2.9M Loan For Multifamily Property In New Haven, CT
FINANCED
$2,900,000
Connecticut
See Similar DealsMultiFamily4,032 SF
Financed 05/19/2020
FINANCED
Affinity Federal Credit Union Provides $2.9M Loan For Multifamily Property In New Haven, CT
411 Orange Street, New Haven, CT, USA
See Similar DealsMultiFamily4,032 SF
Financed 05/19/2020
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$719
Total Square Footage:4,032 SF
Transaction Type:Loan
Located at 411 & 539 Orange Street in New Haven, CT, this recently closed transaction involved a multifamily property. The loan was provided by Affinity Federal Credit Union to Avi Meer of Urban Haven Corp. The brokers responsible for the deal were Abe Mann and Evan Boles of Progress Capital.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Market: New Haven, CT
The loan amount of $2,900,000 was obtained through a 75% LTV cash out refinance for the 23 multifamily units on the property. The deal was facilitated by Abe Mann and Evan Boles, representatives of Avi Meer and Urban Haven Corp, respectively, working with Progress Capital.
Abe Mann can be contacted at 917-574-3810 or via email at [email protected]. Evan Boles can be reached at 732-539-5461 or via email at [email protected]. For any financing needs, don't hesitate to reach out to them.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,900,000.00
Monthly NOI$19,333.33
Monthly Debt Service$18,329.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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