Union Savings Bank Provides $2.5M Refinance Loan For 23-Unit Multifamily In New Haven, CT
FINANCED
$2,543,000
Connecticut
See Similar DealsMultiFamily25,000 SF
Financed 05/09/2023
FINANCED
Union Savings Bank Provides $2.5M Refinance Loan For 23-Unit Multifamily In New Haven, CT
471 Whalley Ave New Haven, CT 06511, USA
See Similar DealsMultiFamily25,000 SF
Financed 05/09/2023
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$101
Total Square Footage:25,000 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 471 Whalley Avenue in New Haven, CT. It has a total square footage of 25,000 and consists of 23 units. The landlord of the property is Avi Meer.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,543,000
- Address: 471 Whalley Avenue, New Haven, CT
- Market: New Haven, CT
- Units: 23
The lender for this transaction is Union Savings Bank. The loan amount is $2,543,000, and it is a refinance loan. The loan terms include a 70% loan-to-value ratio, a fixed interest rate of 5.50% for 5 years, a 1-year interest-only period, and a prepayment penalty of 321.
The broker representing the deal is Abe Mann from Mann Capital.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,543,000.00
Monthly NOI$16,953.33
Monthly Debt Service$16,073.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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