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Theater House / 114 West 86...

Jeff Froccaro, Simon Rosenfeld & Bryan Grimm Acquire Mixed Use Properties In New York And Secure $118.5M Refinance Loan From BMO
FINANCEDMultiFamily

Jeff Froccaro, Simon Rosenfeld & Bryan Grimm Acquire Mixed Use Properties In New York And Secure $118.5M Refinance Loan From BMO

Theater House / 114 West 86th / 315 5th Avenue

$118,500,000

$1,851/SF

Building Size

64,000 SF

Asset Type

MultiFamily

Closing

Jan 9, 2023

AI

The recently closed transaction involved a mixed-use property located at 237 East 34th Street, 114 West 86th, and 315 5th Avenue in the New York market. Offering a total square footage of 64,000, this property attracted attention from various parties.

Summary of transaction details

Heading the transaction, BMO's representative, Jeff Froccaro, facilitated the loan process. The brokers, Simon Rosenfeld and Bryan Grimm, from Meridian Capital Group, also played a crucial role in the deal. The successful refinancing of this property showcases their expertise and knowledge in the market.

Players

Bryan Grimm

Meridian Capital Group

Broker

$160.9M

vol

3 deals

Broker

Jeff Froccaro

BMO

Lender

$216.3M

vol

3 deals

Lender
JB
Jeff Froccaro - Bmo Lender

New York, NY MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93