Newtek Provides $3.1 Million Refinance Loan For Multifamily Asset In Detroit
FINANCED
$3,100,000
Michigan
See Similar DealsMultiFamily18,101 SF
Financed 02/02/2026
FINANCED
Newtek Provides $3.1 Million Refinance Loan For Multifamily Asset In Detroit
667 West Alexandrine Street
See Similar DealsMultiFamily18,101 SF
Financed 02/02/2026
Summary
MICHIGAN
Asset Type:MultiFamily
Price Per Square Foot:$171
Total Square Footage:18,101 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,100,000.00
Monthly NOI$20,666.67
Monthly Debt Service$19,594.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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