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336 37th Street Southeast W...

Updated May 12, 2025

M&T Realty Capital Provides $10.6M Loan To Refinance Affordable Apartment Building In Washington, DC's Fort Dupont Neighborhood
FINANCEDMultiFamily

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

Jared Cassidy

Marcus & Millichap

Broker

$112.6M

vol

13 deals

Broker
 M&T Realty Capital Corporation
M&T Realty Capital CorporationBrokerage
M&T Bank
M&T BankLender

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

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