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Dime Bank Provides $59.75M Refinance Loan For Upper East Side Portfolio

Property Image
FINANCED
$59,750,000
Judah Hammer
Charlie Terrasi
Daniel Neiss

National

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MultiFamily1 SF
Financed 02/23/2023
the dealplayerscompscontact
Property Image
FINANCED

Dime Bank Provides $59.75M Refinance Loan For Upper East Side Portfolio

MultiFamily1 SF
Financed 02/23/2023
Judah Hammer
Charlie Terrasi
Daniel Neiss
the dealplayerscompscontact
Contact now

Summary

Asset Type:MultiFamily
Price Per Square Foot:$59,750,000
Total Square Footage:1 SF
Transaction Type:Loan

The Upper East Side Portfolio located in Upper East Side, NY has undergone a successful loan refinancing transaction. This multifamily property consists of 254 units and is situated in a highly desirable market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $59,750,000
  • Loan Type: Refinance
  • Loan Terms: 7-year Fixed, 5.36% rate, Partial IO term, Bank Lender

The loan was provided by Dime Bank, a reputable lending institution. The brokers involved in the transaction were Judah Hammer and Daniel Neiss from Meridian Capital Group, and Charlie Terrasi from Dime Savings Bank, who represented their respective clients throughout the deal.

Players

Charlie Terrasi
Charlie Terrasi
4 deals$78.3M volume(718) 757-8862
BROKER
Daniel Neiss
Meridian Capital Group
Daniel Neiss
27 deals$635.8M volume
BROKER
Judah Hammer
CBRE
Judah Hammer
36 deals$1.3B volume
BROKER
Judah Hammer
CBRE
Judah Hammer
36 deals$1.3B volume
BROKER
Dime Community Bank
Dime Community Bank
LENDER
HC
HF Capital
LENDER

Details

FINANCED
IMAGE: Judah Hammer, Daniel Neiss & Charlie Terrasi DATE: 02/23/2023 ADDRESS: Upper East Side Portfolio MARKET: Upper East Side NY ASSET TYPE: Multifamily ~ UNITS: 254 LENDER: Dime Bank BROKERS: Judah Hammer (@JudahHammer) & Daniel Neiss - Meridian Capital Group (@Meridian.Capital.Group); Charlie Terrasi - Dime Savings Bank LOAN AMOUNT: $59,750,000 LOAN TYPE: Refinance LOAN TERMS: 7-year Fixed, 5.36% rate, Partial IO term, Bank Lender

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$59,750,000.00

Monthly NOI$398,333.33
Monthly Debt Service$377,660.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00