Judah Hammer & Zev Karpel Of Meridian Capital Group Arrange $135M Loan For 24-Story Luxury Apartment Building In New Rochelle
1 Shearwood Pl, New Rochelle, New York 10801, United States
$135,000,000
$367/SF
Building Size
367,621 SF
Asset Type
MultiFamily
Closing
Aug 24, 2022
AI
A $135,000,000 loan was secured for a multifamily property located at 1 Sherwood Place in New Rochelle. The property is a 24-story high-rise luxury apartment building with 408 units. Additionally, the property has a 422 space parking structure.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $135,000,000
- Property Address: 1 Sherwood Place
- Market: New Rochelle
- Number of Units: 408
Judah Hammer and Zev Karpel of Meridian Capital Group represented the transaction as brokers. They played a key role in securing the loan for the purchase of the property.
Players
City of New Rochelle 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