Updated Sep 11, 2026
Meridian Capital Group Facilitates $135M Loan For New Rochelle Multifamily Property
1 Shearwood Place
$135,000,000
Units
408
Asset Type
MultiFamily
Closing
Aug 25, 2022
About this deal
AI
The multifamily property located at 1 Sherwood Place in New Rochelle has recently undergone a closed transaction. The property consists of a 24-story high-rise luxury apartment building with 408 units. Additionally, there is a parking structure on site with 422 parking spaces. The transaction involved a purchase loan amount of $135,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $135,000,000
- Number of Units: 408
- Address: 1 Sherwood Place, New Rochelle
The deal was facilitated by brokers Judah Hammer and Zev Karpel from Meridian Capital Group. They represented the parties involved in the purchase loan transaction.
On the Map
$135,000,000
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93