Updated Dec 2, 2024
Wells Fargo Refinances $37M Loan For Multifamily & Development Site In Hudson Square
100 Charlton Street, New York City, New York 10014, United States
$37,000,000
$5,558/SF
Building Size
6,656 SF
Asset Type
Development Site
Closing
Jul 14, 2022
About this deal
AI
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.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93