LifeCo Provides $7.225M Refinance Loan For Bronx Multifamily Property With 28 Units
FINANCED
$7,225,000
MultiFamily18,400 SF
Financed 01/10/2025
FINANCED
LifeCo Provides $7.225M Refinance Loan For Bronx Multifamily Property With 28 Units
MultiFamily18,400 SF
Financed 01/10/2025
Summary
IOWA
Asset Type:MultiFamily
Price Per Square Foot:$392
Total Square Footage:18,400 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located in the Bronx, consisting of 28 units and encompassing a total square footage of 9,200. The transaction involves a refinancing arrangement with a loan amount set at $7,225,000 over a 30-year term.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,225,000
- Loan Type: Refinance
- Loan Terms: 30 Years
- Lender: LifeCo
- Broker: Charlie Lefkowitz
- Date: 01/10/2025
- Market: Bronx
- Asset Size: 9,200 SF
- Units: 28
Charlie Lefkowitz brokered the deal, representing the involved parties. The refinancing provides a financial restructuring for the multifamily asset within the Bronx market, facilitated by the lender, LifeCo.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,225,000.00
Monthly NOI$48,166.67
Monthly Debt Service$45,666.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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