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170 West 225th Street

Seven Stone Capital Facilitates $44M Construction Loan For Multifamily Property In Marble Hill, Manhattan
FINANCEDDevelopment Site

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

Meir Kessner

Seven Stone Capital

Broker

$258.7M

vol

7 deals

Broker
Bank Hapoalim (BHI)
Bank Hapoalim (BHI)Lender

Mitch Perle

Timber Equities

Landlord

$74M

vol

3 deals

Landlord

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