Updated Feb 13, 2026
Newtek Provides $3.1 Million Refinance Loan For Multifamily Asset In Detroit
667 West Alexandrine Street
$3,100,000
$171/SF
Building Size
18,101 SF
Asset Type
MultiFamily
Closing
Feb 1, 2026
About this deal
AI
The Alex is a multifamily property located at 667 West Alexandrine Street, Detroit, MI. This asset boasts a total square footage of 18,101 and consists of 30 units. The transaction involved a loan amount of $3,100,000, specifically a refinance type.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Address: 667 West Alexandrine Street
- Market: Detroit, MI
- Asset Size: 18,101 SF
- Units: 30
- Lender: Newtek
- Broker Representatives: David Sirchenko & Brian Flax - Meridian Capital Group
The deal was facilitated by brokers David Sirchenko and Brian Flax from Meridian Capital Group, representing the loan’s requirements and facilitating the refinance process with the lender, Newtek.
On the Map
$3,100,000
$171/SF
MultiFamily
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Players
Detroit 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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93