Updated Oct 28, 2024
National Equity Fund Refinances Iris Holdings Group Multifamily Property In Staten Island For $27.5M
100 Belmont Place, Staten Island, New York 10301, United States
$27,457,000
$211/SF
Building Size
130,000 SF
Asset Type
MultiFamily
Closing
Sep 20, 2022
About this deal
AI
A multifamily property located at 100 Belmont Pl. in Staten Island recently underwent a loan refinancing transaction. The property spans approximately 130,000 square feet and comprises 115 units. The landlord of this property is Iris Holdings Group. The loan was facilitated by National Equity Fund, with David Martin representing the lender in the deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $27,457,000
- Address: 100 Belmont Pl.
- Market: Staten Island
- Square Footage: 130,000
- Units: 115
This refinancing deal was made possible through National Equity Fund, with David Martin serving as their representative. The lender provided a loan amount of $27,457,000 to facilitate this transaction. Through this refinancing, the property owners were able to secure favorable loan terms for their multifamily asset.
On the Map
$27,457,000
$211/SF
MultiFamily
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Players
Staten Island 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
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93