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Dr Dhiren Mehta Acquires 17-Unit Multi Family Property At 1130 Union Avenue, Bronx For $1.875M With Financing From Chase

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FINANCED
$1,875,000

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Dr Dhiren Mehta Acquires 17-Unit Multi Family Property At 1130 Union Avenue, Bronx For $1.875M With Financing From Chase

1130 Union Ave, The Bronx, NY 10459, USA

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MultiFamily4,000 SF
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Summary

Asset Type:MultiFamily
Price Per Square Foot:$468
Total Square Footage:4,000 SF
Transaction Type:Loan

The multi-family property located at 1130 Union Avenue in the Bronx, New York has been sold in a closed transaction. The property consists of 17 units and was purchased by Dr Dhiren Mehta. The transaction was facilitated by broker Simon Rosenfeld.

Summary of transaction details:

  • Property Type: Multi Family
  • Transaction Amount: $1,875,000
  • Lender: Chase
  • Landlord: Dr Dhiren Mehta
  • Broker: Simon Rosenfeld
  • Loan Terms: 4.4% for 10 years fixed

The deal involved the lender Chase providing a loan amount of $1,875,000 at a fixed interest rate of 4.4% for a term of 10 years. Dr Dhiren Mehta acted as the landlord in the transaction, while Simon Rosenfeld represented the buyer as a broker.

Details

FINANCED
IMAGE: Simon Rosenfeld DATE: 09/18/2018 ADDRESS: 1130 Union Avenue MARKET: Bronx, New York ASSET TYPE: Multi Family LENDER: @Chase LANDLORD: Dr Dhiren Mehta BROKER: Simon Rosenfeld LOAN AMOUNT: $1,875,000 LOAN TERMS: 4.4% 10 years fixed UNITS: 17

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,875,000.00

Monthly NOI$12,500.00
Monthly Debt Service$11,851.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00