Zevi Kohn Secures $85.8M Loan For Schervier Rehabilitation & Nursing Center In Bronx
2975 Independence Avenue
Building Size
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Asset Type
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Closing
Apr 25, 2023
AI
Zevi Kohn's Riverdale SNF LLC recently secured a $85.8 million loan from Greystone & Co for the Schervier Rehabilitation & Nursing Center in the Bronx. This nursing center, located at 2975 Independence Avenue in Riverdale, offers a spacious 283,842 square feet of built space.
Summary of transation details
- Property Type: Nursing Center
- Transaction Amount: $85,760,000
- Address: 2975 Independence Avenue, Riverdale
- Market: Riverdale
- Lender: Greystone & Co
- Landlord: Zevi Kohn
This transaction involved Zevi Kohn's Riverdale SNF LLC as the landlord and Greystone & Co as the lender. The loan amount of $85.8 million will support the operations and further development of the Schervier Rehabilitation & Nursing Center in the Bronx.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93