Updated Mar 11, 2025
Santander Bank Provides $43.5M Recapitalization Loan For West Village Multifamily
1 Christopher Street, New York City, New York 10014, United States
$43,500,000
$425/SF
Building Size
102,354 SF
Asset Type
MultiFamily
Closing
Mar 24, 2022
About this deal
AI
The property involved in the transaction is a multifamily asset located at 1 Christopher Street in the West Village neighborhood. The property spans a total square footage of 102,354.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $43,500,000
- Market: West Village
- Lender: Santander Bank
- Brokers: Eli Serebrowski & Meir Schlusselberg - Meridian Capital Group
- Loan Type: Recapitalization
- Loan Terms: 3.07% for 10 Years IO
The loan was provided by Santander Bank as part of a recapitalization transaction. Eli Serebrowski and Meir Schlusselberg from Meridian Capital Group served as the brokers for the deal. The loan amount totaled $43,500,000 with a fixed interest rate of 3.07% for 10 years, with an interest-only payment structure.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Eli Serebrowski to view all their deals.
Browse New York multifamily loans on Traded.
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