Seven Stone Capital Facilitates $44M Construction Loan For Multifamily Property In Marble Hill, Manhattan
170 West 225th Street
$44,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 24, 2023
AI
The multifamily property located at 170 West 225th Street in Marble Hill, Manhattan has undergone a closed transaction involving a construction loan. The loan amount for this transaction was $44,000,000, provided by Ben Azizi of Bank Hapoalim B.M. – New York (BHI). The landlords involved in this deal are Joe Seidenfeld, Jeff Torkin, and Mitch Perle of Timber Equities. Representing the deal are brokers Meir Kessner and David Eisen of Seven Stone Capital.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $44,000,000
- Lender: Ben Azizi - Bank Hapoalim B.M. – New York (BHI)
- Landlords: Joe Seidenfeld, Jeff Torkin, and Mitch Perle - Timber Equities
- Brokers: Meir Kessner & David Eisen - Seven Stone Capital
The key individuals in this transaction include Ben Azizi from Bank Hapoalim B.M. – New York (BHI) as the lender, and Joe Seidenfeld, Jeff Torkin, and Mitch Perle from Timber Equities as the landlords. The brokers representing the deal are Meir Kessner and David Eisen from Seven Stone Capital. These individuals and companies played a significant role in facilitating this closed transaction.
Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93