Updated Dec 4, 2024
Urban Standard Capital Provides $13.8M Loan For Multifamily Acquisition And Construction In Chelsea, Manhattan
227 West 19th Street
$13,800,000
Building Size
—
Asset Type
Development Site
Closing
Oct 19, 2023
About this deal
AI
A multifamily property located at 227 West 19th Street in Chelsea, Manhattan has recently undergone a transaction. The property, owned by RoundSquare Development and VM Properties Group, was involved in an acquisition and construction loan facilitated by Urban Standard Capital. The loan amount for this transaction was $13,800,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,800,000
- Lender: Urban Standard Capital
- Landlord: RoundSquare Development and VM Properties Group
Robert Levine, Seth Weissman, and Bean served as representatives from Urban Standard Capital in this multifamily property deal. For all bridge and construction lending opportunities, interested parties were advised to contact Robert at [email protected].
On the Map
$13,800,000
Development Site
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Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.15%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93