Valley National Bank Provides $3.3M Loan For Residential Co-op On Upper East Side
155 East 93rd Street, Manhattan, New York, NY 10128, USA
$3,300,000
$42/SF
Building Size
77,426 SF
Asset Type
Co-Op
Closing
May 27, 2020
About this deal
AI
A residential co-op located at 155 East 93rd St on the Upper East Side has recently secured a loan from Valley National Bank. The loan, dated on May 27, 2021, amounts to $3,300,000 with a rate of 2.75%. This transaction was facilitated by Simon Rosenfeld from Meridian Capital Group, acting as the broker representing the property.
Summary of transaction details:
- Property Type: Residential Co-op
- Loan Amount: $3,300,000
- Loan Rate: 2.75%
- Lender: Valley National Bank
- Broker: Simon Rosenfeld - Meridian Capital Group
Simon Rosenfeld, from Meridian Capital Group, played a crucial role in securing the loan for the residential co-op located at 155 East 93rd St on the Upper East Side. With a loan amount of $3,300,000 and a rate of 2.75%, this transaction highlights the financial cooperation between the property owner and Valley National Bank.
Players
New York Co-Op Market Snapshot
Boundary boundary · Co-Op · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93