Dermot Company Secures $355 Million Refinance Loan From Mizuho Americas For Upper West Side Tower
21 West End Avenue
$355,000,000
Units
616
Asset Type
—
Closing
May 14, 2026
About this deal
AI
21 West End Avenue is a multifamily property located in the Upper West Side, consisting of 616 rental units within a 48-story tower. The loan involved in this transaction totaled $355 million, financed through a refinance loan structure with Mizuho Americas.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $355,000,000
- Address: 21 West End Avenue
- Market: Upper West Side
- Lender: Mizuho Americas
- Landlord: Stephen Benjamin - Dermot Company
- Loan Type: Refinance
- Loan Terms: 10-year
- Units: 616
The Dermot Company secured this refinancing deal for the property through New York State Homes and Community Renewal, highlighting the collaborative efforts involved in this financial arrangement.
On the Map
$355,000,000
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93