Updated Dec 4, 2024
Morgan Stanley Provides $11.8M Loan For West Village Multifamily Property
10 Charles Street, West Village
$11,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 2, 2020
About this deal
AI
A multifamily property located at 10 Charles Street and 35 Perry Street in the West Village has recently undergone a closed transaction. The property, owned by Joe Ienco, secured a loan of $11,800,000 from Morgan Stanley. The loan terms are set for 10 years with full term interest only. Matthew Shatz of B6 Real Estate Advisors represented the transaction as the broker.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,800,000
- Loan Terms: 10 Years – Full Term Interest Only
- Lender: Morgan Stanley
- Landlord: Joe Ienco
- Broker: Matthew Shatz - B6 Real Estate Advisors
Matthew Shatz, the Director of Capital Advisory at B6 Real Estate Advisors, played a crucial role in facilitating this transaction. His expertise and representation ensured a successful deal for all parties involved.
On the Map
$11,800,000
MultiFamily
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Players
Chester 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
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93