Updated Oct 28, 2024
Phipps Houses Secures $188M Construction Loan For West Farms Multifamily
1005 East 180th Street, The Bronx, New York 10457, United States
$188,000,000
$112,912/SF
Building Size
1,665 SF
Asset Type
MultiFamily
Closing
Jan 12, 2022
About this deal
AI
The property involved in this transaction is a multifamily asset located at 1005 E. 180th St. in the West Farms market. It consists of 1,665 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $188,000,000
- Address: 1005 E. 180th St.
- Market: West Farms
- Units: 1,665
The landlord for this property is Phipps Houses, represented by Adam Weinstein.
This transaction involves a construction loan of $188,000,000.
The multifamily loan at 1005 East 180th Street, The Bronx, New York 10457, United States in New York, New York financed for $188M in 2022. The building is 1,665 square feet, implying about 112.9K per square foot on the published price. This page is the New York, New York file for the 1005 East 180th Street, The Bronx, New York 10457, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else financed near 1005 East 180th Street, The Bronx, New York 10457, United States around 2022. Published consideration for 1005 East 180th Street, The Bronx, New York 10457, United States is $188M, dated 2022. Cite this Phipps Houses Secures $188M Construction Loan For West Farms Multifamily loan when underwriting similar multifamily product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93