National Equity Fund Refinances Iris Holdings Group Multifamily Property In Staten Island For $27.5M
FINANCED
$27,457,000
New York
See Similar DealsMultiFamily130,000 SF
Financed 09/21/2022
FINANCED
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
See Similar DealsMultiFamily130,000 SF
Financed 09/21/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$211
Total Square Footage:130,000 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,457,000.00
Monthly NOI$183,046.67
Monthly Debt Service$173,546.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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