Madison Realty Capital Provides $160.4M Loan For Residential Condo In West Harlem
300 West 122nd Street, New York, NY 10027
$160,400,000
$22,989/SF
Building Size
6,977 SF
Asset Type
—
Closing
Jun 30, 2020
About this deal
AI
Located at 300 West 122nd Street in West Harlem, this residential condo consists of 170 units. The transaction, which took place on June 30, 2021, involved a loan from Madison Realty Capital, with Josh Zegen serving as the lender. Bespoke Living, represented by Rachel Medalie, acted as the landlord in this deal. The loan amount for this transaction was $160,400,000.
Summary of transaction details
- Property Type: Residential Condo
- Transaction Amount: $160,400,000
- Address: 300 West 122nd Street
- Market: West Harlem
- Units: 170
- Lender: Madison Realty Capital - Josh Zegen
- Landlord: Bespoke Living - Rachel Medalie
Rachel Medalie represented Bespoke Living as the landlord in this transaction, while Josh Zegen of Madison Realty Capital served as the lender for the loan. The deal involved the acquisition of the residential condo located at 300 West 122nd Street in West Harlem with a total of 170 units. This transaction marks a significant investment in the real estate market in West Harlem.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93