Wells Fargo Refinances $37M Loan For Multifamily & Development Site In Hudson Square
FINANCED
$37,000,000
New York
See Similar DealsDevelopment Site6,656 SF
Financed 07/15/2022
FINANCED
Wells Fargo Refinances $37M Loan For Multifamily & Development Site In Hudson Square
100 Charlton Street, New York City, New York 10014, United States
See Similar DealsDevelopment Site6,656 SF
Financed 07/15/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$5,558
Total Square Footage:6,656 SF
Transaction Type:Loan
100 & 102 Charlton Street, located in Hudson Square, has been involved in a recent closed transaction. This property consists of a multifamily building and a development site spanning a total of 6,656 square feet. The transaction took place on 07/15/2022. The property is owned by Lalezarian Properties and was refinanced through a loan provided by Wells Fargo in the amount of $37,000,000.
Summary of transaction details
- Property Type: Multifamily & Development Site
- Transaction Amount: $37,000,000
- Market: Hudson Square
- Loan Type: Refinance
- Loan Lender: Wells Fargo
- Landlord: Lalezarian Properties
The loan obtained from Wells Fargo was used to refinance the property. This transaction demonstrates the financial activities and strategic decisions made by Lalezarian Properties in managing their assets. The involvement of Wells Fargo as the lender showcases the trusted relationship between the borrower and the financial institution.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$37,000,000.00
Monthly NOI$246,666.67
Monthly Debt Service$233,865.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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