ZMI Secures $8.1 Million Refinance Loan From Lument For MultiFamily Asset In Irvington
130 Ellis Avenue
$8,100,000
$218/SF
Building Size
37,000 SF
Asset Type
MultiFamily
Closing
Feb 28, 2025
AI
The asset involved in the transaction is a MultiFamily property located at 130 Ellis Avenue, situated in the market of Irvington. The transaction consists of a refinancing loan amounting to $8,100,000.00 with a 5-year term at an interest rate of 5.54%.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $8,100,000.00
- Loan Type: Refinance
- Loan Terms: 5-year term, 5.54% Interest Rate
- Lender: Lument
- Landlord: ZMI
- Loan Date: 02/28/2025
The key individuals involved in the transaction include ZMI as the landlord and Lument acting as the lender for the refinance loan. This deal outlines the financial framework supporting the property owned by ZMI in the Irvington market.
Players
Irvington 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
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93