Updated May 12, 2025
M&T Realty Capital Provides $10.6M Loan To Refinance Affordable Apartment Building In Washington, DC's Fort Dupont Neighborhood
336 37th Street Southeast Washington, District Of Columbia 20019, Usa
$10,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 2, 2023
About this deal
AI
The transaction involves a multi-family asset located at 336 37th Street SE in Washington, DC. This property was refinanced for an amount of $10,600,000. The loan was facilitated by M&T Realty Capital Corporation and is structured as a 10-year loan with 24 months of interest-only payments, an interest rate of 5.67 percent, a 30-year amortization schedule, and a loan-to-value ratio of 68 percent.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $10,600,000
- Lender: M&T Realty Capital Corporation
- Landlord: Kaye Stern Properties
- Broker: Jared Cassidy - Marcus & Millichap
- Loan Type: Refinance
- Loan Terms: 10-year loan includes 24 months of interest-only payments, with an interest rate of 5.67 percent, 30-year amortization, and a 68 percent loan-to-value ratio.
This closing involved key individuals and companies including M&T Realty Capital Corporation as the lender, Kaye Stern Properties as the landlord, and Jared Cassidy of Marcus & Millichap representing the brokerage side of the transaction. The refinancing aims to support an affordable apartment building situated in the Fort Dupont neighborhood of Washington, D.C.
Players
Sea Isle City 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
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93